US Core Capital Goods Orders Rise by Most in Nearly Six Years

Summary

Bloomberg's Michael McKee reviews March economic data, highlighting a strong rise in core capital goods orders (up 3.3%), a wider trade deficit, and mixed housing starts. The data suggests ongoing economic strength that could influence Federal Reserve policy.

• Durable goods orders rose 0.8% in March, with ex-transportation up 0.9%.
• Core capital goods orders (non-defense ex-air) jumped 3.3%, the most since mid-2020.
• Advanced goods trade deficit widened to $87.9 billion as imports surged.
• Housing starts rose 10.8% month-over-month, but building permits fell 10.8%.
• Overall data points to a strong economy, with potential implications for Fed monetary policy.