Today’s Durable Goods Manufacturers’ Shipments, Inventories and Orders report indicated that total new orders for manufactured durable goods declined 3.6% from March to $189.9 billion while excluding transportation, new orders declined 1.5% to $143,175 billion.
Stripping durable goods orders of defense orders AND non-defense aircraft orders yields an effective measure of orders coming as a direct result of typical discretionary consumer durable goods spending on items such as motor vehicles, furniture, consumer electronic devices and home appliances.
Looking at the latest data for March (less timely data), "discretionary" durable goods orders increased notably jumping 3.72% since February climbing 10.91% above the level seen in March 2010.
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