Breaking: US Durable Goods Orders Plummet by 6.6% in June, Driven by Transportation Decline

New orders for manufactured durable goods in the United States saw a sharp monthly decline of 6.6% to $264.5 billion in June, according to an advance report by the US Census Bureau released on Thursday. This significant drop was primarily driven by transportation equipment, which fell by 20.5% or $19.6 billion to $75.8 billion.

Excluding transportation, new orders rose by a modest 0.5%, while excluding defense, the figure decreased by 7.0%. Despite the downturn in new orders, shipments of manufactured durable goods increased by $3.5 billion or 1.2% to $288.1 billion. Meanwhile, unfilled orders for manufactured durable goods declined by 1.3% or $18.8 billion to $1,384.3 billion.

Market reaction to the data saw investors reassessing their positions, with potential impacts on manufacturing and transportation sectors being closely watched.