WASHINGTON – New orders of durable goods unexpectedly declined 1.0% in June, the second consecutive monthly drop and the largest decline in 10 months, the Commerce Department reported Wednesday.
Excluding transportation, orders fell 0.6%, the second decline in three months.
Economists predicted durable goods orders would increase 1.0% for the month and orders excluding transportation would increase 0.4%, according to the median estimate from Thomson Reuters.
Orders for May were revised higher to a 0.8% decline from a 1.1% drop reported last month, while orders excluding transportation were revised up to a 1.2% gain from the originally reported 0.9% rise.
Orders for nondefense capital goods, excluding aircraft, rose 0.6%, following a 4.6% gain in May. Shipments increased 0.2% following a 1.5% increase in May.
Orders for electronic equipment increased 3.7% and orders for motor vehicles and parts increased 2.5%, both the strongest gains since March. Total transportation equipment orders slid 2.4%.
Total unfilled orders for durable goods were flat in June.
