Manufacturers New Orders - June 2016


ECONODAY: A drop for primary metals, a sharp drop for machinery, and a reversal for defense aircraft all pulled down durable goods orders in October which fell a sharper-than-expected 4.4 percent. A very sharp downward revision to September, revised from a 0.8 percent gain to a 0.1 percent decline, is another unfavorable headline in today's report. Orders for primary metals, down 2.3 and 1.2 percent the past two reports, continue to weaken following tariff-related pre-buying earlier in the year, while orders for machinery -- which are at the center of the capital-goods group -- fell 0.5 percent in October following lifeless gains of 0.1 and 0.2 percent in September and August...