June durable goods orders +1.9% vs -0.5% expected

• Durable goods orders +1.9% vs -0.5% expected. Prior month +0.8%
• Nondefense capital goods orders ex-air +0.5% vs. +0.2% expected. Prior +0.5%
• Ex defense +0.4% vs. +0.2% expected. Prior +0.7%
• Ex transportation +0.3% vs. +0.2% expected. Prior +0.7% (revised to +0.5%)
• Unfilled orders +0.7% vs +0.3% prior -- up 22 consecutive months
• Shipments +0.3% vs +1.5% prior

Durable goods orders have risen in 8 of the prior 9 months and this is a solid surprise. There are plenty of people screaming that the economy has been in a terrible contraction this year but this report -- even in embattled manufacturing -- shows that demand to rebuild inventories is strong.

/eur EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value Read this Term