Durable Goods Orders Unexpectedly Decline in June

| July 28, 2010

The Census Bureau reported that new orders for manufactured durable goods decreased 1.0% in June, whereas consensus expectations were for an increase of 1.0%.

“New orders for manufactured durable goods in June decreased $2.0 billion or 1.0 percent to $190.5 billion, the U.S. Census Bureau announced today. This was the second consecutive monthly decrease and followed a 0.8 percent May decrease. Shipments of manufactured durable goods in June, down two consecutive months, decreased $0.7 billion or 0.3 percent to $195.0 billion. This followed a 0.7 percent May decrease.”

This report continues the pattern of “unexpectedly” poor economic data releases that we have experienced over the past couple of months, and we expect this trend to intensify moving forward.

Category: Commentary, Market Update

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