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Durable goods orders plunge in June

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Durable goods orders plunge in June

4.0% decrease follows revised 2.8% decrease in May.

New orders for manufactured durable goods in June fell 4.0%, the U.S. Census Bureau announced today. The decrease followed a revised 2.8% decline in May.

Non-defense capital goods orders excluding aircraft - so-call “core capital goods orders” - increased 0.2% during the month, following two months of declines.

Analysts had estimated a decrease in durable goods of 1.4%. 

The decline in manufactured durable goods indicates that US manufacturing continues to face headwinds, and while the data for June reflects conditions prior to the results of the UK referendum to leave the EU, the strengthening of the dollar against the British Pound subsequent to that vote suggests that US exports of manufactured good may continue to suffer.

 

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