Did the hard data just confirm the soft with CapEx?

Non defense capital goods ex aircraft orders in February unexpectedly fell by .3% m/o/m vs the estimate of a gain of .2% and follows a .9% rise in January (revised up by one tenth). They are now down 1.2% y/o/y.

Vehicles/parts orders did rebound by 4% but after 4 months of declines and are still down 2.7% y/o/y. Orders were flat for computers/electronics after a 1.8% rise in the month before. Orders for electrical equipment, which has been a bright spot over the past six months with data center buildouts, were up 2% m/o/m. Orders were little changed for machinery and rose for both primary and fabricated metals.

Core shipments, which get plugged into GDP, jumped by .9%, well above the estimate of up .2%. This is likely due to the rush to get product before tariffs but will lift Q1 GDP estimates.