Durable Goods Orders up 4.2% For June
New orders for durable goods flew up a seasonally adjusted 4.2%, to $244.5 billion, for June; but without flight, new numbers remain stagnant. Excluding transportation equipment, which the Wall Street Journal alludes to as primarily new Boeing orders, new orders recorded no movement from May.
After increasing a revised 5.2% for May, analysts had expected overall new orders growth of 1.5%, far below June's total boost. However, excluding transportation, Mr. Market's 0.6% growth prediction proved too optimistic.
Overall shipments of goods remained stagnant, while unfilled orders moved up 2.1% to a new record high (since data was first recorded in 1992) on a 2.9% boost in transportation equipment orders. A 0.5% increase in transportation inventories pushed inventories up 0.2% to a new record high, as well.
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