While much support of the US economy today is coming from services spending, we are still seeing increases in durable goods orders – many of which contain tubing. The primary category of growth is automotive as pent-up demand remains from shortages during the pandemic. Other support is coming from military spending. All in all, durable goods orders in April increased by 1.1%, but declined by 0.2% when excluding transportation equipment. Interestingly, new durable goods orders overall increased 4 out of the last 5 months while shipments DECREASED 5 of the last 6 months.
展开▼
