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Friday, August 16, 2019
HomeNewsEconomyDurable Goods Orders Decline More than Expected in July

Durable Goods Orders Decline More than Expected in July

A 787 Dreamliner being built for Air India is pictured at South Carolina Boeing final assembly building in North Charleston, South Carolina. (Photo: Reuters)
A 787 Dreamliner being built for Air India is pictured at South Carolina Boeing final assembly building in North Charleston, South Carolina. (Photo: Reuters)

A 787 Dreamliner being built for Air India is pictured at South Carolina Boeing final assembly building in North Charleston, South Carolina. (Photo: Reuters)

The U.S. Census Bureau said Friday durable goods orders in July decreased $16.7 billion or 6.8% to $229.2 billion, more than the consensus 5.8% forecast. A decline in aircraft orders drove the overall headline in the report, which fell 82% in July juxtaposed to the giant 227% jump in June.

Still, the report is a net positive for gross domestic product (GDP) as it shows a sharp 1.0 increase in shipments of core capital goods.

They were revised 0.2% higher for June to 0.6%.

Overall, shipments of manufactured durable goods in July, which have been up three consecutive months, increased $1.0 billion or 0.4% to $237.4 billion. Transportation equipment, up two of the last three months, fueled the gains, $0.4 billion or 0.5% to $79.2 billion.

Excluding transportation, new orders increased 0.5%. Excluding defense, new orders decreased 7.8%. Transportation equipment, also down three of the last four months, drove the decrease, $17.4 billion or 19.0% to $74.3 billion.

Unfilled orders for manufactured durable goods in July, which have been down two of the last three months, decreased $3.8 billion or 0.3% to $1,131.8 billion. In June, it increased by 1.3%. Transportation equipment, which has also been down two of the last three months, fueled the decline, $4.8 billion or 0.6% to $772.2 billion.

Written by
Data Journalism Editor

Rich, the People's Pundit, is the Data Journalism Editor at PPD and Director of the PPD Election Projection Model. He is also the Director of Big Data Poll, and author of "Our Virtuous Republic: The Forgotten Clause in the American Social Contract."

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