The surprising 2.5% increase in April durable goods
excluding transport as well as the 4.2% advance in core capital goods
makes for a strong report that contrasts with the ISM manufacturing data,
economists say.
Eric Lascelles, senior economics and rates strategist at TD
Securities, said the release is an “awfully strong looking
report,” noting the while “most measures are still flirting
around zero,” there was also “substantial growth” in a few key
components.