June durables positive lead in to tomorrow’s Q2 GDP report

June durables positive lead in to tomorrow’s Q2 GDP report

Headline durable goods order climbed 6.5% in June. That’s well above the 2.9% increase expected by economists surveyed by Briefing.com, and quite a turnaround from the revised 0.1% drop recorded in May. But the headline numbers weren’t nearly as good as they seemed. Orders Ex-transport (that is once you discounted the huge month to month swings that the timing of aircraft orders can produce in this data) were up only 0.2%