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Orders for durable goods fell sharply last month, with transportation equipment driving the decline (Floor Daily).

What’s going on: “New orders for manufactured durable goods in June, down following four consecutive monthly increases, decreased $18.6 billion or 6.6% to $264.5 billion, the U.S. Census Bureau announced.”

• The decline follows a 0.1% May increase.
• Transportation equipment, which has been down two of the past three months, fell $19.6 billion, or 20.5%, to $75.8 billion.

A bright spot: Core durable goods orders, however, which exclude transportation equipment, rose 0.5%, “indicating some underlying strength in manufacturing demand” (FX Empire).

Shipments up: Durable goods shipments advanced $3.5 billion, or 1.2%, to $288.1 billion. This follows a 0.4% decrease in May.

Unfilled orders and inventory: Unfilled durable goods orders decreased $18.8 billion, or 1.3%, to $1,384.3 billion, with transportation equipment leading the decline.

• “Inventories of manufactured durable goods in June, down following two consecutive monthly increases, decreased $0.1 billion or virtually unchanged to $529.4 billion,” according to Floor Daily.