July factory orders and revisions to durable goods orders

  • Lowest since Aug 2014
  • Prior was +3.0% (revised to +3.2%)
  • Factory orders ex transport +0.5% vs -0.2% prior
  • Prior ex transport -0.2% (revised to +0.1%)

Durable goods orders revisions:

  • Durable goods orders -6.8% vs -6.8% initially reported
  • Prior was +6.4%
  • Ex transportation +0.6% vs +0.5% initially
  • Prior ex transport +0.1%
  • Capital goods orders nondefense ex air +1.0% vs +0.4% initially
  • Prior capital goods orders 0.0%
  • Capital goods shipments nondefense ex air +1.2% vs +1.0% initially
  • Prior shipments +0.6%

It's not nearly as bad as the headline seems. The revision to capital goods orders nondefense ex air along with strong factory orders ex-transport is a good sign for Q3 and Q4.