December 2016 Economic Indicators
Melanie Garza - Director of Strategy and Growth
Defense Spending Surges
New orders for durable goods posted its largest gain in a year in October, rising 4.8%. The increase, up four consecutive months, followed a 0.4% September increase.
Transportation equipment, also up four consecutive months, led the increase at 12% growth. Excluding transportation, new orders increased 1%. Excluding defense, new orders increased 5.2%.
New orders for nondefense aircraft and parts climbed 94.1% and defense related aircraft rose 33% in October. Both indexes are still -10.7% and -5.7% from a year ago.
In other industries, capital goods rose 12%; fabricated metals climbed 2.2%; machinery was up 0.2%; and computers and electronic products were up 0.9%.
Consumer Confidence Leaps
The Consumer Confidence Index jumped to 107.1 in November, surprising economists who had predicted a 101.2 measure. The index was up from a 100.8 reading in October. November’s reading was the highest since July 2007, according to The Conference Board.
The survey, a closely followed barometer of consumer attitudes, measures confidence toward business conditions, short-term outlook, personal finances and jobs.
Questions or comments? Please contact Melanie Garza at mgarza@teamCOACT.com