US durable goods orders rise 3.4% in June, core rises 0.8%

FXStreet (Mumbai) – The data reported by the US commerce department showed today that orders for durable goods in June increased 3.4% after a downwardly revised 2.2% fall in May. The headline figure was expected to rise 3.2% in June.

Core orders at 9-month high

Orders minus transportation rose 0.8%, its highest since August 2014, beating the estimated rise of 0.5%. Meanwhile, orders for core capital goods – a reflection of business investment – rose 0.9% in June after having declined for last two months. Core orders are still running 3.4% below 2014 levels halfway through the year.

Shipments of core capital goods, which is used in the calculation of GDP, fell 0.1% in June, missing the estimated rise to 0.6%.

The headline figure rose more than expected, mainly on account of strong bookings for passenger airplanes. However, the core figure did beat the estimate. Still, the USD index is more less unchanged after the report.

The data reported by the US commerce department showed today that orders for durable goods in June increased 3.4% after a downwardly revised 2.2% fall in May. The headline figure was expected to rise 3.2% in June.

(Market News Provided by FXstreet)