US May factory orders -0.7% vs -0.6% expected

May factory orders data

• Prior was -0.8% (revised to -1.2%)
• Ex transport +0.1% vs +0.3% prior (prior revised to +0.2%)

Revisions to March durable goods orders:

• Durable goods orders -1.3% vs -1.3% in prelim report
• Ex transport +0.4% vs +0.3% prelim
• Capital goods orders non-defense ex air +0.5% vs +0.4% prelim
• Capital goods shipments +0.6% vs -0.7% prelim

This isn't a great report, especially with the negative revision to the prior factory orders headline. The changes to durable goods orders are negligible in the grand scheme of things.