Significant Decline in Durable Goods Orders

In a surprising turn of events, the US Census Bureau reported a significant 9.3% monthly drop in durable goods orders for June, totaling $311.8 billion. This figure notably fell short of analysts' expectations, signaling potential concerns for the US economy.

Transportation Sector Leads the Downturn

The transportation equipment sector was the primary driver behind this decline, experiencing a steep 22.4% decrease to $113 billion. However, there was a silver lining as new orders, excluding transportation, saw a modest 0.2% increase.

Mixed Results Across Other Metrics

On a brighter note, shipments of manufactured durable goods rose by 0.5%, adding $1.4 billion to reach $302.5 billion. Additionally, unfilled orders for manufactured durable goods saw a 1% increase, or $14.4 billion, climbing to $1,470 billion.