The numbers: Orders for sturdy items rose 2.1% in July, the Commerce Division stated Monday. It’s the second straight month-to-month acquire. Economists anticipated a 0.9% acquire in accordance with the MarketWatch survey.
What occurred: The acquire in orders was led by transportation, primarily Boeing BA, +0.45% orders. Excluding that sector, orders fell 0.4%, the most important drop since March.
A key metric, orders for non-defense capital items, rose 0.4% in July, however a acquire within the prior month was revised down sharply.
Large image: The U.S. manufacturing sector is in a technical recession, fighting commerce stress, international weak point and the robust greenback.
What are they saying? “No backside but for core orders,” stated Ian Sheperdson, chief economist at Pantheon Macroeconomics.
Market response: Inventory index futures have been increased as President Donald Trump stated China desires to return to the negotiating desk. The Dow Jones Industrial DJIA, -2.37% has been decrease for 4 straight weeks.