SPY & Durable Goods Orders
New orders received by manufacturers for goods expected to last at least three years, a key indicator of business investment and economic momentum.
SPY Price
Durable Goods Orders
New orders for manufactured goods expected to last 3+ years
Year-over-Year Change
What It Measures
Durable Goods Orders measures the value of new orders placed with domestic manufacturers for goods designed to last three years or more. Categories include: - **Transportation Equipment** (~50%): Aircraft, motor vehicles, ships, railroad equipment - **Computers and Electronics** (~15%): Computers, communications equipment, semiconductors - **Machinery** (~10%): Industrial machinery, HVAC, construction equipment - **Metals** (~8%): Fabricated metal products - **Electrical Equipment** (~5%): Appliances, electrical components - **Other** (~12%): Furniture, miscellaneous manufacturing Aircraft orders (especially Boeing) can cause significant month-to-month volatility, which is why economists often focus on "ex-transportation" or "core capital goods" readings.
Why It Matters
**Business Investment Proxy**: Durable goods orders, especially "core capital goods" (non-defense, ex-aircraft), reflect business confidence and capital expenditure plans. **Leading Indicator**: Orders precede production, making this a leading indicator of manufacturing activity and GDP growth. **Economic Confidence Signal**: Businesses only order expensive, long-lasting equipment when they're confident about future demand. **Supply Chain Insight**: Order backlogs and unfilled orders provide visibility into future manufacturing activity.
Key Levels
Data Sources
SPY: S&P 500 ETF daily OHLCV data (1993-02-02 to 2026-02-13)
Durable Goods: DGORDER - Durable Goods Orders from U.S. Census Bureau
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