U.S. Durable Goods Orders: Hard Landing | Metals Mine

  • U.S. Durable Goods Orders: Hard Landing

    From economics.bmo.com

    U.S. durable goods orders fell 9.3% in June, retracing a fair amount of the prior month’s surge. Wild swings like this are usually centered around volatile transportation equipment, which fell 22.4%, marking the biggest drop since the pandemic shutdowns—as Boeing bookings took a nosedive. Core capital goods orders—a gauge for business investment—sagged 0.7% after an upwardly revised 2.0% gain in the prior month. Meantime, the control measure of core shipments (incl. aircraft)—an input for GDP—dropped 0.9%. That would suggest firms are now taking a more cautious approach to capital spending following a ... (full story)

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