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U.S. Commerce Department reported on Tuesday that the durable goods orders rose
0.8 percent m-o-m in June, following a revised 3.2 percent m-o-m jump in May
(originally a 2.3 percent m-o-m climb).
Economists had forecast a 2.1 percent m-o-m increase.
According to the report, the June gain was primarily attributable to the increased orders for transportation equipment (+2.1 percent m-o-m) and computers and electronic products (+1.0 percent m-o-m). Meanwhile, orders for durable goods excluding transportation edged up 0.3 percent m-o-m in June, following a revised 0.5 percent m-o-m increase in May (originally a 0.3 percent m-o-m advance), missing economists’ forecast for a 0.8 percent m-o-m gain.
Elsewhere, orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, increased 0.5 percent m-o-m in June after a revised 0.5 percent gain m-o-m in May (originally a 0.1 percent m-o-m fall). Economists had called for a 0.7 percent m-o-m increase in core capital goods orders in June.
Shipments of these core capital goods went up 0.6 percent m-o-m in June after an unrevised 0.9 percent m-o-m growth in the prior month.
On a y-o-y basis, durable goods orders were up 26.8 percent, while orders, excluding transportation, were up 18.0 percent.