U.S. June durable goods orders increased 0.8%, their second gain in a row, beating market expectations for no growth or a slight dip. Nonmilitary orders rose 0.1%, and ex-transportation increased 2.0%. The latter is now up in three of the last four months.
Strength was seen in machinery orders, up 2.3%, primary metals at a 5.1% increase — the biggest gain since July 2007— and electrical equipment up 5.0%. Computers were the weak component with a 0.5% decline, and the subset of communications equipment was off 4.4%.