July Durable Goods Beat Expectations At 4%

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Headline: Headline figures came in up 4% versus expectations of 2%.

Ex-transportation figures are up 0.7% in July. Ex-defence durable goods are up 4.8%.

But there’s bad news too. Core capital goods orders which exclude defence and transport were down 1.5% versus expectations for 0.5% gains.

U.S. futures which were sharply lower earlier in the dar, but are now flat ahead of the market open.

Expectations:

  • 2% month-over-month increase in new orders.
  • 0.1% year-over-year increase in new orders.
  • Ex-transport, durable goods orders are expected to fall 0.5%.

Analysis: Durable goods orders in June fell a revised 1.9% month-over-month, from the original 2.1% figure.

Last month, transportation had been the weakest component plummeting 8.6%. Ex-transport, durables were up a revised 0.4%.

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