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Durable Goods Orders Notched Gains at the Start of Q2

While April’s gains in order growth were less impressive compared to previous months, this doesn’t necessarily signal a deterioration in business equipment spending. Get the hard numbers now.
Jun 09, 2022

Headline, nominal durable goods orders climbed 0.4% in April following a revised 0.6% increase in March (from 0.8% previously). Transportation (0.6%) orders climbed higher with a rise in aircraft orders (up 3.5%), driven by stronger nondefense and defense aircraft orders, more than offsetting a slip in motor vehicle orders (down 0.2%). Excluding transportation, durable goods orders rose for a second consecutive month, up 0.3%.

While April’s increases were less impressive than March, Oxford Economics doesn’t believe this signals an oncoming deterioration in business equipment spending. We should expect some moderation in the pace of gains as the recovery matures and tilts in favor of services. Further, a positive fundamental backdrop of solid demand and constrained supply will support equipment spending growth.

Ian Stringer
Vice President, Data Strategy
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