WASHINGTON – The value of U.S. durable goods new orders fell 6.8% in July, below expectations for a 6.1% decline, as transportation orders fell 19.0%, but nontransportation orders posted a 0.5% gain, data released Friday by the Commerce Department showed.
The rise in new orders excluding transportation was slightly ahead of the 0.4% gain expected and reflected mixed components. There were gains for fabricated metals, computers and electronics, electrical equipment, and the "all other durables category" that offset a sharp decline in machinery. Primary metals orders were unchanged.
Nondefense aircraft orders plunged 70.7% in July after a 129.3% surge in June, while defense aircraft orders rose 47.8%. Motor vehicles orders fell 1.2%. In addition, transportation orders excluding motor vehicles and aircraft fell 9.3%, according to an MNI calculation.
Nondefense capital goods new orders fell 20.2%, primarily due to a huge 82.2% reversal in civilian aircraft orders, but were up 0.4% excluding civilian aircraft.
Durable goods shipments rose 0.4% in July, with nondefense capital goods shipments up 2.0% and up 1.0% excluding civilian aircraft shipments.
Durable goods inventories were up 0.3% in the month, while unfilled orders were down 0.3%.
