Durable goods orders data for June 2020
- Final May reading was +15.7% (revised to 15.1%)
- Ex transport +3.3% vs +3.5% exp (+3.6% prior)
- Capital goods orders non-defense ex-air +3.3% vs +2.4% exp
- Prior capital goods orders non-defense ex-air +1.6%
- Capital goods shipments non-defense ex-air +3.4% vs +2.8% exp
- Prior cap goods shipments +1.5% (revised to +1.6%)
This is a good report overall and slightly ahead of expectations. The 3.3% rise in core capital goods orders is the highlight and and shows some confidence from consumers and factories.
More recently though, JPM notes a retrenchment in manufacturing:
