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26 Apr 2016
Durable goods preview - Nomura
Analysts at Nomura offered a preview of the durable goods orders coming up in the U.S. shift.
Key Quotes:
"Hard data on the industrial sector have yet to show any convincing signs of a turnaround in activity in the sector."
"On the other hand, survey data have been more optimistic, with the ISM manufacturing new orders subindex increasing by almost 7pts in March. Taking these mixed factors into account, we expect to see only a gradual 0.4% increase (Consensus: 0.5%) in durable goods orders excluding transportation in March, after the sharp 1.3% decline in February."
"An expected rise in orders for nondefense aircrafts and parts in March should place upward pressure on orders for transportation goods during the month. As such, we expect top-line durable goods orders to increase by 2.2% in March (Consensus: 1.9%)."
Key Quotes:
"Hard data on the industrial sector have yet to show any convincing signs of a turnaround in activity in the sector."
"On the other hand, survey data have been more optimistic, with the ISM manufacturing new orders subindex increasing by almost 7pts in March. Taking these mixed factors into account, we expect to see only a gradual 0.4% increase (Consensus: 0.5%) in durable goods orders excluding transportation in March, after the sharp 1.3% decline in February."
"An expected rise in orders for nondefense aircrafts and parts in March should place upward pressure on orders for transportation goods during the month. As such, we expect top-line durable goods orders to increase by 2.2% in March (Consensus: 1.9%)."