Investors eye Durable Goods Orders in run up to US GDP

Whilst attention today is undeniably focused upon the US Interest Rate decision; due to be announced by the Federal Reserve at 1630 GMT; the release of US Gross Domestic Product data tomorrow will prove equally significant. Whilst attracting considerable less attention than the aforementioned release; which, as previously reported, will be accompanied by a European Central Bank style Press Conference and Q&A session; the release of Durable Goods Orders data for March will provide investors with an opportunity to incorporate the findings into their GDP forecasts.

Durable Goods Orders; both including and excluding transportation; should interest investors. Despite analysts predicting month on month gains of 2.3% and 2% respectively; a considerable rebound following February’s declines of 0.6% and 0.3%; both Durable Goods Orders figures continue to trend downwards. Although not entirely positive, strength within other manufacturing sectors; including the ISM manufacturing data; implies that healthy growth levels remain in effect. At the same time, Capital Goods Shipments will also provide an indication of how tomorrow’s GDP release could look.

Durable Goods Orders are reported by the US Census Bureau. The figure is due for release at 1230 GMT.