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On the radar: Boeing books 46 new orders in January after 218 in December

Boeing has reported a total of 46 new orders for January, down 172 from December. There were 10 new orders from domestic sources, 9 from non-US, and 27 from unidentified buyers. Unidentified orders are often for military aircraft, which taken with the identified orders in January, points to a substantial gain for defense aircraft when the January data on advance durable goods orders are reported. However, that won’t be the next durable goods report on Thursday, February 21 which is only through December.

The December data on orders for durable goods will include a big jump of 167 orders to 218 for the month predominated by unidentified orders (200) with those from domestic buyers (2) and non-US (16) including commercial aircraft. Seasonal adjustment of the durables numbers for transportation tends to capture the normal increase in orders at year-end as Boeing closes outstanding deals to put a nice finish on orders booked for the year. However, the size of the 2018 close-out suggests transportation will get a boost. Whereas the January total is probably about average for the start of a new year.

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