Analysts at Nomura expect a modest 0.3% m-o-m increase in ex-transportation durable goods orders of US in June.
Key Quotes
“The ISM new orders index edged down slightly but remained high at 63.5 in June. The industrial production report for June indicated healthy growth in ex-transportation durable goods output. These data appear consistent with the solid momentum in the industrial sector and a pickup in business equipment investment in Q2.”
“Among transportation equipment, orders for motor vehicle and parts likely rose sharply. The industrial production report indicated that truck assemblies picked up in June following significant disruptions in May.”
“Further, civilian aircraft orders likely boosted transportation orders considering industry data. Altogether, we expect a 3.0% m-o-m increase in total durable goods orders in June.”
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