Durable Orders for July advanced by 4.9% ($7.8 billion), better than the expected 3.1% gain, to $168.4 billion, which is the largest increase since June of 2007. This was the third increase in the past 4 months following a 1.3% drop in June, up 1.3% in May, and up 1.8% in April. Over the past 12 months, Durable Orders have dropped by 25.8%. Transportation showed the largest increase, by 18.4% ($6.8 billion). Excluding transportation, new orders increased by 0.8% in July with a 22.9% 12 month decline.
New Home Sales for July are scheduled for release today at 10:00 AM EST, and are expected to increase to 391,000 sales. In June, this indicator jumped by 11% to a 384,000 annual pace, from 346,000 in May. The median price of a new home sold in June was $206,200, with the mean price at $276,900.
Upcoming Releases
GDP Preliminary (08/27 at 8:30 AM EST)
Initial Claims (08/27 at 8:30 AM EST)
Personal Consumption Expenditures (08/28 at 8:30 AM EST)
ISM Manufacturing Index (09/01 at 10:00 AM EST)
