The results far outpaced analyst expectations for only a 1.5% overall gain. The notable strength of course came from orders for non-defense aircraft & parts. Those gains that more than doubled, recouped any declines the prior two months.
Regardless of the aircraft sector, the durable factory goods sector appeared on the mend as well. Less the transportation sector, orders were enough to lift the y/y gain in orders to 8.6%. This strength suggests further improvement in shipments and that industrial output is accelerating after the modest y/y gains already logged in prior months.
Looking at core components, most of them posted gains. Leading those components: Computers & electronics were up 4.6% and communications equipment rose 3.1%. Also improving were primary metals, and electrical equipment.
Thursday's report underscores a manufacturing sector that continues its path of accelerated Q1 growth.