The U.S. Census Bureau reported new orders for manufactured durable goods gained 7.3%, or $14 billion to $206.9 billion in June. That’s the second straight month of strong data beating the consensus forecast.
Forecasts for new orders ranged from a low of 2.0% to a high of 12.0%. The consensus forecast was 6.5%, a still solid but less gain than the figure for June.
Excluding transportation, new orders for durable goods rose 3.3%. Forecasts ranged from a low of 2.0% to a high of 4.0%. The consensus forecast was 3.5%.
Excluding defense, new orders gained 9.2%. Transportation equipment, also up for the second consecutive month, led the gain, increasing $9.2 billion or 20.0% to $55.3 billion.