Factory orders data for March 2020:
- Lowest ever (since 1957)
- Prior was 0.0%
- Factory orders ex transport -3.7% vs -0.9% prior
Durable goods revisions:
- Orders -14.7% vs 14.4% exp (prelim -14.4%)
- Lowest ever (since 1992)
- Ex transport -0.4% vs -0.2% exp
- Capital goods orders non-defense ex-air -0.1% vs +0.1% exp
- Capital goods shipments non-defense ex-air -0.2% vs -0.2% prelim
What's interesting here is how hard transport was hit and how the first wave of pain was almost entirely focused on that part of the economy. Will it stay that way or is it just going to unfold in slow motion elsewhere?
