First lets define what this is. “Durable goods orders are new orders placed with domestic manufacturers for the delivery of long-lasting manufactured goods. The Census Bureau releases durable goods orders monthly as an economic indicator.”

The data is in: New orders decreased by 6.1% in January, a larger drop than the anticipated 4.5%.

Initially, this might trigger panic. It’s a significant decline. However, when viewed from a long-term perspective, orders remain substantially higher than pre-pandemic levels.

The Feds will see this as more data helping them lean into future rate drops.