Not much to cheer about this month's numbers
Only three components gained in the June report;
Electrical & appliances 0.8% vs -0.2% prior
Motor vehicles and parts 2.6% vs -3.1% prior
Non-def cap goods ex-air (as above)
It's pretty bleaks reading in terms of the parts that are more consumer related.
Considering June retail sales weren't bad it still shows that suppliers aren't that confident of the market they're doing business in.
I don't like durables at the best of times due to the volatility, and we've not got any real trends within the data to show definitive strength or weakness. We're up one month, down the next or show one thing that gets revised the other way. Overall, if we flatten it all out, we have same evidence of steadiness that we can use to describe the whole of the US economy right now.
