Durable Goods Orders Released On 8/26/2013 8:30:00 AM For Jul, 2013 Prior Prior Revised Consensus Consensus Range Actual New Orders - M/M change 4.2 % 3.9 % -4.0 % -7.2 % to 1.4 % -7,3 % Ex-transportation - M/M 0.0 % 0.1 % 0.3 % -0.5 % to 1.5 % -0.6 % Highlights Manufacturing remains weak with aircraft orders swinging sharply down to drag down the headline number. But other durables orders were weak also. New factory orders for durables in July dropped a huge 7.3 percent after jumping 3.9 percent the month before. Analysts forecast a 4.0 percent drop for July. The transportation component fell a monthly 19.4 percent, following a spike of 11.7 percent in June. Excluding transportation, durables orders dipped 0.6 percent after a rise of 0.1 percent in June. Market expectations were for a 0.3 percent increase in orders excluding transportation.
Within transportation, motor vehicles rose 0.5 percent, nondefense aircraft plunged 52.3 percent, and defense aircraft decreased 2.2 percent. Outside of transportation, gains were seen in fabricated metals and "other" durables. Declines occurred in computers & electronics and electrical equipment. Primary metals and machinery were flat.
Nondefense capital goods orders excluding aircraft fell 3.3 percent, following a 1.3 percent rise in June. Shipments for this series declined 1.5 percent, following a decrease of 0.8 percent the month before.
Durables orders are almost always volatile on the transportation component. But stripping out transportation, this sector is still soft in July. News is mixed for August based on regional surveys-some slowing and some improving.
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