Overview

• Non-defense capital goods orders excluding aircraft fell 0.7% in June, defying economists’ expectations for a modest increase.
• Durable goods orders declined 9.3% as non-defense aircraft bookings plunged 51.8% following May’s surge.
• Shipments of core capital goods rose 0.4% in June, indicating only slight momentum in equipment deliveries.
• S&P Global’s flash manufacturing PMI entered contraction territory in July for the first time since December.
• Businesses accelerated spending in Q1 to beat impending tariffs, with many scaling back as uncertainty over import duties persists.