Details of the US July durable goods orders report
– Prior was -3.9% (revised to -4.2%)
– Ex transport +1.5% vs +0.4%
– Prior ex-transportation was -0.4% (revised to -0.3%)
Strong headline and very good internals. The only soft spot is shipments, which will be a drag on Q3 growth but it showed be covered by a stronger Aug and Sept, partly due to the jump in orders.
