Orders have risen in 15 of the past 16 months • Prior was +1.5% • Ex transportation +0.3% vs +0.8% prior • Manufacturing inventories +% vs +0.5% prior Revisions to durable goods: • US durable goods orders +1.8% vs +1.8% prelim • Durables ex transportation +0.3% vs +0.2% prelim • Capital goods orders non-defense ex-air +0.6% vs +0.5% prelim The orders are there but the backlogs continue to grow as supply chain issues hit hard. (full story)