WASHINGTON - New orders for durable goods fell a surprising 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 airplanes.
Overall orders for May were revised to a 1.9% increase.
Non-defense capital goods orders excluding transportation were down 0.4% after a 1.7% increase in May.
June shipments of non-defense capital goods ex-aircraft were up 1.0% in June from the revised 1.7% rise in May.
Unfilled orders rose 1.1% after a revised 1.6% the month before.
Machinery orders, which some had expected to rise, fell 2.3%. Communications equipment, up 15.2% was the only big increase.
