Cap goods out of slump, but still waiting on Trump tax cut
Orders up YOY, but down from January
US capital goods orders excluding defense and aircraft were up 2% YOY but down 0.1% seasonally adjusted from January. US CapEx is out of the 2015-2016 slump but hardly a boom.
US corporations apparently are waiting to see the shape of the Trump Administration’s corporate tax cut before cutting checks for new equipment. The headline durable goods number was up 1.5% YOY and up 1.7% seasonally adjusted.