Durable Goods Orders Unexpectedly Rise

Durable goods orders for June showed an unexpected bounce this morning, expanding 0.8% against a -0.3% consensus estimate. The growth represents an acceleration from the 0.1% growth rate in May. Census Bureau:

New orders for manufactured durable goods in June increased $1.6 billion or 0.8 per cent to $215.4 billion, the U.S. Census Bureau announced today. This was the second consecutive monthly increase and followed a 0.1 per cent May increase. Excluding transportation, new orders increased 2.0 per cent. Excluding defence, new orders increased 0.1 per cent.

Graph courtesy Briefing.com

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