US durable goods orders inch higher in June

(Sharecast News) - The Census Bureau revealed on Monday that new orders for US‑manufactured durable goods ticked up 0.3% month‑on‑month to $334.77bn in June, rebounding from a revised 4% drop in May but falling well short of expectations for a 1.6% increase. Orders excluding transportation were up 0.6%, with increases across capital goods, primary metals, computers and electronics, and electrical equipment. On the other hand, transportation orders slipped 0.2%, led by a 0.6% decline in motor vehicles and parts.

Non‑defence capital goods excluding aircraft rose 0.9%, following an upwardly revised 1.9% gain in May and coming in ahead of forecasts.

The Census Bureau also noted that business spending has remained resilient this year, supported by robust investment in AI and a war‑related increase in US defence orders.







Reporting by Iain Gilbert at Sharecast.com