Durable Goods Orders Plunge In July After Boeing Hangover

July Durable Goods Orders plunged 6.8% MoM (much worse than the -6.0% expectation), more than erasing June’s aircraft-order-based 6.4% jump. This is the biggest drop since Boeing’s reaction in Aug 2014.
Just as we saw in 2014, this is simply the hangover from Boeing’s June orders with non-defense aircraft new orders down 70.7% month-over-month.

This post was published at Zero Hedge on Aug 25, 2017.