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U.s. Durable Goods Tumble 2.5% In June, Biggest Fall Since Jan

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Durable Goods Orders Drop 2.5%, Most in Five Months

Published: Wednesday, 29 Jul 2009 | 8:34 AM ET

New orders for long-lasting U.S. manufactured goods fell more sharply than expected in June, notching their biggest decline in five months as demand for communications and transportation equipment slumped, a government report showed on Wednesday.

The Commerce Department said durable goods orders fell 2.5 percent, the largest drop since January, after rising by a revised 1.3 percent in May, previously reported as a 1.8 percent surge. This was worse than market expectations for a 0.6 percent decline. Orders had advanced for two straight months.

New orders excluding transportation unexpectedly rose 1.1 percent in June, after climbing by 0.8 percent in May.

Excluding defense, orders slipped 0.7 percent in June, after two months of straight gains.

Analysts polled by Reuters had expected orders excluding transportation to be flat.

Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending, rose 1.4 percent in June and above market expectations for a 0.2 percent gain.

The prior month was revised to a 4.3 percent rise, previously reported as a 4.7 percent jump.

http://www.cnbc.com/id/32200483

This is quite a fall after two months of rises. :ph34r:

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Something must be wrong the Dow is currently down.

This does not compute, bad news = dow up. The system must be broken.

Feds Beige book.

made the pundits look stupid.

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