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US durable goods orders fell in July, first decline in 3 months. However excluding transportation rose. Of note nondefense capital goods orders, excluding aircraft, which is seen as a proxy for business spending were flat after rising 1.0% in June.

Durable Goods 

Total durable goods orders declined 0.1% month-over-month in July (consensus -0.3%).

United States Durable Goods Orders

Durable goods orders, excluding transportation, increased 0.7% (consensus +0.3%) following an upwardly revised 0.6% increase ( 0.3%) in June

United States Durable Goods Orders Ex Transportation

Highlights

  • On a year-over-year basis, durable goods orders were up 25.3%,
  • Orders, excluding transportation, were up 17.7%.
  • Orders for primary metals increased 2.7%.
  • Orders for machinery increased 2.9%.
  • Orders for fabricated metal products rose 0.3%.
  • Orders for motor vehicles and parts jumped 5.8%.
  • Shipments of nondefense capital goods, excluding aircraft, which factor into GDP forecasts, rose 1.0% after increasing 0.6% in June.

From The TradersCommunity NewsDesk

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