Durable Goods Orders Down Second Month: Very Ugly Numbers Excluding Defense -

Durable Goods Orders Down Second Month: Very Ugly Numbers Excluding Defense

Durable goods orders fell 0.6% in May after declining an upwardly revised 1.0% in April.

The Census Department Advance Report on Durable Goods sports some ugly numbers for May.

New Orders: -0.6%

Excluding Transportation: -0.3%

Excluding Defense: -1.5%

Motor Vehicles and Parts: -4.2%

Defense Aircraft and Parts: +21.1%

Nondefense Capital Goods: -2.0%

Nondefense Capital Goods Excluding Aircraft: -0.2%

Defense Capital Goods: +15.1%

Those are some of the worst numbers I have seen in a long time. Defense orders masked an extremely weak report.

Shipments, a direct GDP feed, were down 0.1% in May and flat in April.

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