US June factory orders -0.3% vs +0.2% expected
- Prior was -1.3% (revised to -1.1)
- Durable goods revision for June +0.5% vs +0.3% preliminary. Durable goods in May was -4.0%
- Durable goods ex transportation +0.7% versus +0.6% preliminary. Prior month +1.8%
- Non defense capital goods ex-air +1.2% versus +0.9% preliminary. Last month +1.8%
- Factory orders ex tansportation -0.4% versus +1.9% prior
This is a solid report but it’s certainly not spectacular. This is a strange investment-boom cycle because the capex numbers are huge but all the spending is being swallowed up by chip fabs.
This article was written by Adam Button at investinglive.com.