Orders were down 0.1% from June, after rising for two months, to $ 257.2 billion.
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Durable goods orders in the United States fell again in July, due to the decline in orders in the aeronautics sector, but declined less than expected, according to data released Wednesday by the Commerce Department.
Orders were down 0.1% from June, after rising for two months, to $ 257.2 billion.
The decline is however less sharp than expected, since analysts predicted a decline of 0.3%, after an increase of 0.8% in June.
Goods considered durable are those used for three years or more such as cars, household appliances or electronics.
Excluding the transport sector, on the other hand, orders were up 0.7%.
In fact, orders were down 48.9% in the aeronautics sector, compared to last month. However, given the amounts involved, a single command can make the figures jump or plunge.
“Orders were affected by a sharp drop in purchases of Boeing aircraft – which is trending upwards but which are extremely volatile from month to month – partially offset by a rebound in orders for automobiles and parts”, Ian Shepherdson, economist for Pantheon Macroeconomics, details in a note.
The automotive sector, whose production has been slowing down for several months due to the global shortage of semiconductors, has indeed recorded orders up 5.8% in July, against + 1.8% in June and + 1.9% in May.
“Overall, the data for July points to solid growth in capital spending at the start of the third quarter. But with the surge in producer prices and the recovery tilting in favor of service activities, we should see a gradual moderation (…) in the second half of 2021 ”, underlines Oren Klachkin, economist at Oxford Economics.
Often deprived, for more than a year, of trips, restaurants, bars, concerts, … Americans largely spent their money there when these activities reopened with the summer and vaccination, turning away from purchasing goods.
However, the Delta variant of Covid-19 is now jeopardizing the confidence of many people to resume certain activities.
In addition, households are now paying more attention to their spending, while the generous aid paid by the government since the start of the pandemic is gradually ending. Especially since the global supply difficulties are driving up prices.
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