Durable Goods Orders Crater In May - Longest Non-Recessionary Slump In American History

Durable Goods Orders cratered 2.2% in May, drastically below -0.5% expectations - the worst since Feb. The entire data series disappointed with unexpected declines in Durables Ex-Transports and non-defense orders and shipments. However this is now the 17th month in a row of YoY Core Durable Goods declines, something that has never happened without a US economic recession being present.

 

 

Time to hike rates Mrs. Chairwoman.

 

Charts: Bloomberg