Boeing reported a total of six new orders in August, down 25 from 31 in July. For the year-to-date, gross orders stand at 145, but with 90 cancellations, orders for the first eight months of 2019 add up to a skimpy 55.
Boeing continues to struggle to book new orders and retain existing ones in the wake of the air disasters associated with its 737 MAX aircraft. The current year is shaping up to be the worst year since 2009 when there were net new orders of 142, the culmination of the effects of the recession. Boeing may face greater difficulties in climbing back from the hit on its reputation and worries about the safety of its aircraft at a time when the global economy is slowing down and its competitors has claiming more market share. It is possible that there will be more orders coming after the MAKS (Moskow Airshow) event that ran August 27-September 1 from deals not yet closed. The next chance for a rebound in orders is likely to be the Dubai Airshow on November 17-21.
Surveys of manufacturing point to a soft month for new orders in August that is expected to mean that the advance report on new orders for durable goods will be a weak one when it is released at 8:30 ET on Friday, September 27. Last month it was transportation orders — including an increase in aircraft — that helped bring the headline in with an upside surprise of 2.0% higher. That probably won’t happen again in August.
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