Durable Goods Drop Most Since February On Transportation Weakness, Offset By Strong Core CapEx

Following the June surge, which led to a modest July drop, durable goods were expected to slow further by sliding -0.3% M/M, and moments ago we learned that indeed in August durable goods slid -0.2%, fractionally above expectations if still the biggest sequential drop since February, however on a YoY basis, growth rebounded back to double digits, rising 11.2% after July’s 9.2%.