Details of the May factory orders report with revisions to durable goods orders

  • Prior -0.4% (revised to -0.7%)
  • Ex-transport +0.1% vs 0.0% prior (Prior revised to -0.1%)
  • Durable goods orders revised to -2.2% vs -1.8% initially
  • Non-defense capital goods orders revised to -0.4% vs +0.4% initially
  • Durable goods orders ex-transport revised to 0.0% vs +0.5%

This certainly changes the picture from the initial release of core durable goods orders, when it was a +0.4% reading compared to +0.5% expected.

There has been no growth in core durable goods orders for over a year. It's probably the worst-looking US economic indicator at the moment.