Today’s Durable Goods Manufacturers’ Shipments, Inventories and Orders report indicated that total new orders increased 2.5% from February to $208,372 billion while excluding transportation, new orders increased 1.3% to $153,680 billion.Stripping durable goods orders of defense orders AND non-defense aircraft orders yields an effective measure of orders coming as a direct result of typical discretionary consumer durable goods spending on items such as motor vehicles, furniture, consumer electronic devices and home appliances.
Looking at the latest data for February (less timely data), "discretionary" durable goods orders increased 0.93% since January climbing 11.39% above the level seen in February 2010.
