US Durable Goods Orders Rebound Less Than Expected in June

• US Durable Goods orders rose 0.3% in June, missing forecasts.
• May’s decline was revised to -4.0%.
• Core capital goods orders slightly exceeded expectations.

New orders for U.S. manufactured durable goods increased by 0.3% in June, falling significantly short of market expectations which ranged from 1.6% to 2.5%. This modest rebound followed a revised 4.0% decline in May. Excluding the volatile transportation sector, orders rose by 0.6%, also below the anticipated 0.8% increase. However, non-defense capital goods orders excluding aircraft, a key indicator for business investment, showed a 0.9% rise, slightly exceeding the 0.8% forecast. Shipments of manufactured durable goods also saw a 0.7% increase during the month.