US durable goods slump -9.3% mom on transport orders

US durable goods orders plunged -9.3% mom to USD 311.8B in June, marking the steepest drop since April 2020. Still, the result was better than consensus forecasts of -11.0% mom decline. The weakness was driven almost entirely by transportation equipment, which tumbled -22.4% mom to USD 113.0B, pulling headline orders sharply lower. Beneath the surface, […]

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