Updated: 25-Jul-24 09:38 ET
| June Durable Orders |
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| Updated: 25-Jul-24 09:38 ET |
Highlights
- Durable goods orders in June sunk 6.6% month-over-month (Briefing.com consensus 0.4%).
- Excluding transportation, durable goods orders increased 0.5% month-over-month (Briefing.com consensus 0.2%).
Key Factors
- New orders for primary metals dipped 0.1% following a 0.3% decline in May.
- New orders for fabricated metal products increased 0.2% following a 0.2% increase in May.
- New orders for machinery jumped 1.6% following a 0.7% decline in May.
- New orders for computers and electronic products increased 0.8% following a 0.5% increase in May.
- New orders for transportation equipment plunged 20.5% following a 0.6% increase in May, led by a 127.2% decline in new orders for nondefense aircraft and parts.
- Shipments of nondefense capital goods orders excluding aircraft, which factors into GDP computations, edged 0.1% higher after declining 0.7% in May.
Big Picture
- The key takeaway from the report is that the weakness was driven by a large drop in nondefense aircraft and parts orders, which are volatile. An added takeaway is that business spending in June was quite solid, evidenced by the 1.0% increase in new orders for nondefense capital goods excluding aircraft.
| Category | JUN | MAY | APR | MAR | FEB |
| Total Durable Orders | -6.6% | 0.1% | 0.2% | 0.8% | 1.2% |
| Less Defense | -7.0% | 0.0% | -0.5% | 1.1% | 1.7% |
| Less Transport | 0.5% | -0.1% | 0.4% | -0.1% | 0.4% |
| Transportation | -20.5% | 0.6% | -0.1% | 2.5% | 2.9% |
| Capital Goods | -18.4% | 0.0% | -0.8% | 0.2% | 2.0% |
| Nondefense | -22.4% | -0.4% | -2.9% | 1.2% | 3.5% |
| Nondefense/nonaircarft (core cap gds) | 1.0% | -0.9% | 0.2% | -0.2% | 0.5% |
| Defense Cap Goods | 6.1% | 2.1% | 14.3% | -7.1% | -7.1% |
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