Durable goods orders still not growing much/See what happened when the last tariff war took place

Core durable goods orders in April were as expected when we include the downward revision to March. So, the .3% m/o/m gain follows a one tenth decline in March. The same is the case for shipments, which plugs into GDP as the 3 tenths beat in April was offset by a 3 tenths downward revision to March. 

The production of vehicles/parts were up 1.5% m/o/m, up for a 6th straight month and up 10.7% y/o/y. Auto inventories, particularly in EVs, are rising. The gains in electrical equipment, machinery and fabricated metals follows drops in March. Orders for computers/electronics and primary metals rose for a 2nd month. That key computer/electronics and electrical equipment categories are each up 3.6% y/o/y.