WASHINGTON — New orders for durable goods fell 2.1% in June on a seasonally adjusted basis, the Commerce Department reported Wednesday. Orders excluding transportation were up just 0.1%.
It was a bleak report compared to economists’ expectations. The median estimates of analysts polled by Thomson Reuters was for a 0.4% increase in total orders and a 0.5% increase excluding transportation.
Transportation orders themselves were off 8.5% as orders for civilian aircraft plunged 28.9%. New vehicle orders also contributed to the decline, falling 1.4%.
Before the release, IHS Global Insight economist said the Paris Air Show in June, normally a big sales event for Boeing, was a “dud.” According to Thomson Reuters, Boeing had 48 new orders last month but they were for relatively low-value airpcraft.
Overall orders for May were revised to a 1.9% increase. Unfilled orders rose 1.1% after a revised 1.6% the month before.