The numbers: July durable goods orders came in at 0.3%, which is WAY below the 3.0% that analysts were expecting.
Excluding autos, durable goods orders actually SHRANK 3.8%, while analysts were looking for small growth. That's a horrible.
Markets are weakening further on the news, though they haven't collapsed yet. All the major indices are off less than 1% still.
The full report can be found here.
Here's the summary paragraph
New orders for manufactured durable goods in July increased $0.6 billion or 0.3 percent to $193.0 billion, the U.S. Census Bureau announced today. This increase followed two consecutive monthly decreases including a 0.1 percent June decrease. Excluding transportation, new orders decreased 3.8 percent. Excluding defense, new orders increased 0.3 percent.
Transportation equipment, also up following two consecutive monthly decreases, had the largest increase, $6.1 billion or 13.1 percent to $52.6 billion. This was due to nondefense aircraft and parts, which increased $4.0 billion.
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