Thursday, May 28, 2009
Durable goods orders data for April
Durable goods orders data for April were just released and show an increase of 1.9%, which is better than the 0.5% increase that was expected by economists. Meanwhile, the previous data was revised downward to reflect a 2.1% decrease. Excluding transportation, durable goods orders for April climbed 0.8%, which is better than the 0.3% decline that was widely anticipated. Durable goods orders less transporation for March were revised downward to reflect a 2.7% decrease. Separately, initial jobless claims for the week ending May 22 totaled 623,000, which was slightly below the 628,000 initial claims that were expected. Claims for the prior week were revised upward to 636,000. Meanwhile, continuing claims notched another record high by coming in at 6.79 million, which exceeds the 6.75 million continuing claims that were generally expected. Continuing claims increased 110,000 week-over-week. Both new home sales for April and first quarter mortgage delinquencies are due at 10:00 AM ET.