Keeping you up to date on the latest data releases.
- Durable Goods
New orders for durable goods inched up 0.3 percent in July, after two consecutive monthly decreases. However, a jump up in aircraft orders accounted for much of the overall increase. Orders excluding transportation equipment plunged 3.8 percent in July, pulling its 3-month annualized growth rate down into negative territory (−8.7 percent) for the first time since last May. Still, its longer-term trend (12-month growth rate) is a relatively healthy 9.5 percent. An important input into nonresidential investment—orders for nondefense capital goods excluding aircraft—fell 1.5 percent in July, following a string of five consecutive monthly gains. Its 3-month growth rate fell from 12.8 percent to 4.5 percent during the month. Shipments of durables rose 2.2 percent in July, compared to a 0.2 percent tick-up in June and still managed to gain 0.6 percent after excluding transportation equipment. Over the past 12 months, shipments are up 9.3 percent. Manufacturers added to inventories for the seventh consecutive month, adding an additional 0.6 percent in July, though that is somewhat less that the average over the prior three months of 1.1 percent.