New data show that U.S. core capital goods orders — reflected by the Goods Orders Non Defense Ex Air indicator — grew at a slower pace in June 2026, suggesting a moderation in business investment momentum.
Month-over-month, the indicator rose by 0.9% in June 2026, down from a 1.6% increase recorded in May 2026. The figures, updated on 27 July 2026, compare each month’s performance to the prior month, highlighting a clear deceleration in the pace of growth.
While orders continued to expand, the step down from May to June indicates that businesses may be adopting a more cautious stance on capital expenditure as mid-2026 progresses, with growth still positive but less robust than in the preceding month.
