Orders for Durable Goods Up Slightly in June

Orders for manufactured durable goods rose slightly in June, slowing the upward momentum seen the month prior, reported the U.S. Census Bureau. Orders for cars, appliances and other durable goods rose by 0.8% to a seasonally adjusted $257.6 billion in June, weaker than expected and much less than the 3.2% growth seen the month before. Nonetheless, it recorded gains in 13 of the last 14 months.

Transportation led the increase for the second straight month despite the semiconductor shortage still severely impacting auto production. Transportation rose 2.1% in June, following a 10.0% increase the month prior. Motor vehicle orders were down 0.3% last month, while nondefense aircraft orders remained strong with a 17.0% jump in June.

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

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