The Independent Market Observer

Economic Release Snapshot: Durable Goods Orders Improve in April

Posted by Sam Millette

This entry was posted on May 28, 2024 7:52:36 AM

and tagged In the News

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Monday UpdateEach week, we break down the latest U.S. economic reports, including what the results mean for the overall health of the economy. Here, you will find how economists’ forecasts compare with actual results, key takeaways to consider, as well as a list of what’s on tap for the week ahead.

Reports for the Week of May 20

Existing home sales, April (Wednesday)

  • Expected/prior month existing home sales change: +0.8%/–3.7%
  • Actual existing home sales change: –1.9%

The pace of existing home sales unexpectedly slowed in April, marking two consecutive months of slowing sales.

FOMC meeting minutes, May (Wednesday)

The Fed’s May meeting minutes showed a hawkish tilt at the central bank, with many participants indicating that they believe a higher-for-longer interest rate environment is necessary to combat inflation.

Durable goods orders, April, preliminary (Thursday)

  • Expected/prior durable goods orders monthly change: –0.8%/+0.8%
  • Actual durable goods orders change: +0.7%
  • Expected/prior core durable goods orders monthly change: +0.1%/+0.0%
  • Actual core durable goods orders change: +0.4%

Durable goods orders rose more than expected in April, marking two consecutive months of solid business spending.

Upcoming Reports for the Week of May 28

Conference Board Consumer Confidence, May (Tuesday)
Consumer confidence is set to fall modestly in May, which would mark four consecutive months of declining confidence if estimates hold.

Personal income and spending, April (Friday)
Personal income and spending are both set to improve modestly in April.

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