Highlights of the US durable goods orders report for July:
- Prior capital orders non-defense ex-air +3.3% (revised to +5.4%)
- Overall durable goods orders +22.6% vs +8.0% expected (highest month in at least 20 years)
- Prior durable goods orders +1.7% (revised to +2.7%)
- Ex-transportation vs +0.5% exp
- Prior ex-transportation +1.9% (revised to +3.0%)
These numbers have been revised twice now and both are higher. If not for the upward revision, the core orders would have been better than expected. I think the market will eventually take this as good news.
Durable goods orders non defense ex air
