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Durable Goods orders fall 1% in June

By Anonymous

From the Census Bureau:

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.

From Reuters: Durable Goods Orders Fall Short as Demand Stays Weak

The Commerce Department said durable goods orders fell 1.0 percent after a revised 0.8 percent drop in May.

Analysts polled by Reuters had forecast orders increasing 1.0 percent in June from May's previously reported 0.6 percent fall.

This was well below expectations, and is further evidence of a slowdown in the manufacturing sector.

Full post as published by Calculated Risk on July 28, 2010 (boomark / email).