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On the radar: Boeing reports no new orders for May

It looks like Boeing received no new orders in May. As of the end of May, Boeing reported 99 gross new orders for 2019 to date. This was the same as in April. Contractural changes for 2019 to date total down 84, or net new orders so far for 2019 at a meager 15. Fallout continues from the 737 MAX disasters as 68 of the order cancellations were for that model.

Boeing may be pinning its hopes for revived orders on upcoming air shows — Paris (June 17-23), Moskow (July 1), and Dubai (November 17-21).

The impact on new orders for durable goods in May could be relatively small when the data is released at 8:30 ET on Wednesday, June 26. The month-over-month decline is negligible and May isn’t typically a strong month for aircraft orders in advance of major air shows in the summer months. Where the weakness is more likely to be visible is in declines in unfilled orders, although there should be plenty of backlog to keep manufacturers busy for now.

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