Durable Goods Orders (Ex-Transports) Beat Expectations In June After surging higher in May, on the back of huge Boeing aircraft orders, US durable goods orders were expected to tumble back to earth in preliminary June data… and they did. Durable Goods Orders plunged 9.3% MoM (slightly better than the -10.7% MoM expected) – the biggest drop since the COVID lockdowns. But as the chart below shows, it is a wildly noisy time series, almost entirely due to the lumpiness of aircraft orders… Source: Bloomberg Thanks to a swing from a 230% MoM rise to a 50% MoM decline in non-defense… — Continue at ZeroHedge News : Read More
