Durable Goods Orders Fell 0.3% In July

Durable good orders fell 0.3% in July vs. +2.5% consensus and -1.0% decrease in June. Transportation taken out the figure was a decrease of whopping -3.8% vs. -0.6% fall in June.

This is game changing report, it was obvious that consumer demand was weakening and housing is cratering, now we have confirmation that investments are also falling. Big miss if we take the core figure (airplanes taken out).

Chart 1. U.S. Durable Goods Orders

Source: U.S. Census Bureau

Chart 2. U.S. Durable Goods Orders Ex. Transportation

Source: U.S. Census Bureau

This entry was posted on Wednesday, August 25th, 2010 at 11:21 am and is filed under U.S. Economic Data. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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