July Machine Orders +3.5% m/m,
- expected 4.0%, prior 8.8%
July Machine Orders +1.1% y/y,
- expected 0.5%, prior -3.0%
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Core Machinery Orders measures the change in the total value of new orders placed with machine manufacturers, excluding ships and utilities (electrical power companies … these and ship builder orders are very volatile). It is a key indicator of future capital spending/investment and a leading indicator of manufacturing production.
