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Thursday, August 03, 2017

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.

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