US: Durable Goods Orders Projected to Rebound - TDS
Research Team at TDS, expects that the US Durable goods orders are
projected to rebound in March following a 3.0% decline last month.
Key Quotes
“TD
sees an upside risk to the market consensus of +1.9% m/m as strong
Boeing orders lend support to a +3.6% print. Excluding the
transportation sector, orders should advance by a more moderate 1.2% m/m
(market: 0.5% m/m) while core orders should increase by 0.4% m/m
(market: 0.6% m/m).
Case-Shiller home prices are expected by the
market to increase by 0.8% m/m in February for the 20-city index,
though TD sees only a 0.6% gain. Later in the morning, we have the
release of Flash Markit Services PMI for March at 900 ET. TD is broadly
in line with the market and looks for an improvement to 52.2, slightly
higher than the market consensus of 52.0.
April’s Conference
Board measure of consumer confidence should climb from 96.2 to 98.1,
though the consensus forecast is for a slight dip to 95.8. Lastly, the
Richmond Fed Index will give us another glimpse at regional
manufacturing data for April.”
