US durable goods orders print slightly below forecasts in June

Orders for goods made to last more than three years continued to bounce back last month, despite another sharp drop in orders for civilian aircraft.

According to the Department of Commerce, durable goods orders jumped at a month-on-month pace of 7.3% in June to reach $151.58bn (consensus: 7.0%).

Nevertheless, the reading for the previous month was revised lower from a preliminary estimate of 15.7% to 15.1%.

The largest increase was seen in orders for motor vehicles and parts, which surged 85.7% to $52.78bn, alongside smaller increases for primary and fabricated metals as well as for machinery.

Orders for capital goods excluding aircraft and defence meanwhile increased by 3.3% to $64.34bn, although they remained 2.3% below their prior year level.

Total orders for durable goods were also down on the year earlier level, by 13.3%.