We Just Witnessed A Historic Month For Commercial Aircraft Orders
People ordered a ton of airplanes in July.
In a note to clients, Brian Jones at Societe Generale said he expects durable goods orders rose 24.5% in July, up from 1.7% in June, and topping the current record high monthly percentage increase.
The catalyst? Airplanes.
Jones notes that Boeing reported a record 324 commercial aircraft were ordered in July, nearly three-times the 109 ordered in June, with the composition of these orders weighted towards the company's more expensive models.
Boeing's orders totaled an estimated $98.3 billion, Jones estimates, and he expects the Census' durable goods report next week to show an increase in aircraft bookings that is about half that amount.
Jones writes that, "While market participants have been trained to strip out the ever-volatile transport category when assessing a report, July's projected moon shot, with its implications for future nondefense capital goods shipments, may indeed be too large to ignore."
Here's the eye-popping chart that shows the projected increase in airplane sales.
Societe Generale
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- 2 states where home prices are falling because there are too many houses and not enough buyers
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- India Inc marks slowest quarterly revenue growth in January-March 2024: Crisil
- Nothing Phone (2a) India-exclusive Blue Edition launched starting at ₹19,999
- SC refuses to plea seeking postponement of CA exams scheduled in May
- 10 exciting weekend getaways from Delhi within 300 km in 2024
- Foreign tourist arrivals in India will cross pre-pandemic level in 2024