Durable goods orders preview: a gradual increase - Nomura
|Analysts at Nomura offered a preview of the key Durable goods orders coming up.
Key Quotes:
"Hard data on the industrial sector have yet to show any convincing signs of a sustained turnaround in activity in the sector. In addition, key survey data have deteriorated again after a brief improvement at the end of Q1."
"However, in April, industrial production of durable goods excluding transportation rebounded after declining in the prior month. Taking these mixed factors into account, we expect to see only a gradual 0.8% increase (Consensus: +0.3%) in durable goods orders excluding transportation in April, after the 0.2% decline in March."
"An expected decline in orders for aircrafts and parts in April should place downward pressure on orders for transportation goods during the month. As such, we expect top-line durable goods orders to decline by 0.5% (Consensus: +0.5%) in April."
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