May 2018 US durable goods data 27 June 2018

  • Prior -1.6%. Revised to -1.0%
  • Ex-transport -0.3% vs 0.5% exp m/m. Prior 0.9%. Revised to 1.9%
  • Ex-defense -1.5% vs -1.9% prior m/m. Revised to -1.5%
  • Cap goods orders non-def ex-air -0.2% vs 0.5% exp m/m. Prior 1.0%. Revised to 2.3%
  • Cap goods shipments non-def ex-air -0.1% vs 0.3% exp m/m. Prior 0.9%

Headline not as soft but some of the underlying numbers are. Some better revisions to last month but this is the third time to get the numbers right. Overall, the revisions will add in what the drop this month take away so it’s not all bad. There’s nothing major in these numbers so a muted reaction in USD so far.

Ryan Littlestone

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