June US factory orders +3.0% vs +3.0% m/m expected

• Prior was -0.8% (revised to -0.3%)
• Factory orders ex transportation -0.2%
• Prior ex transport -0.3% (revised to -0.1%)

Final revisions to June durable goods orders:

• Orders +6.4% vs +6.5% initially reported
• Ex transportation +0.1% vs +0.2% initially
• Capital goods orders non-defense ex air 0.0% vs -0.1% initially
• Capital goods shipments nondefense ex air +0.1% vs +0.2% initially

Highlights of the initial report on July 27.

The good news is the upward revisions to the prior. There is a school of thought that the best insight on economic data is the directions of revisions, because it shows more strength in the economy then there is on the surface.