Core Factory Orders Growth Slowest Since Feb, Durable Goods Revised Lower

While headline factory orders rose 0.7% MoM (as expected), ex-transports, it rose just 0.4% in June (admittedly the 12th monthly rise in a row). Final durable goods data was all revised lower on the month.


Durable Goods Orders final for June was revised down from +1.0% to +0.8% (but has rebounded from the 0.3% drop in May).

Capital Goods New Orders (ex-defense, ex-aircraft & parts) rose just 0.2% MoM (dramatically revised down from the preliminary 0.6% rise in June) suggesting the tax-cut-driven capex-spike was not as large as expected.