Durable Goods Orders Down 1%

New orders for manufactured durable goods in June decreased $2.0 billion or 1.0 percent to $190.5 billion, the U.S. Census Bureau announced today. This was the
second consecutive monthly decrease and followed a 0.8 percent May decrease. Excluding transportation, new orders decreased 0.6 percent. Excluding defense, new
orders decreased 0.7 percent.

Shipments of computers and electronic parts were down 4.1%. Shipments of communications equipment were down 6.2%. New orders for nondefense aircraft and parts plunged 25.6%. New orders for defense aircraft and parts was up 6.5%. In the battle of guns and butter, guns are obviously winning.