The United States has experienced a continued downturn in durable goods orders excluding defense for the month of June 2024. Fresh data updated on August 2, 2024, reveals a drop of 7.2% month-over-month (MoM), extending the previous month's decline of 7.0%.
This downward trend indicates worsening conditions in the manufacturing sector for goods intended to last three years or more, excluding defense-related items. The consistent decline over consecutive months points to underlying economic challenges potentially affecting consumer confidence and business investment in durable goods.
Economists and industry experts are watching closely as these figures may signal broader economic concerns. Policymakers and market participants will be dissecting this data to gauge potential impacts on the overall health of the U.S. economy.
