Consumers bought fewer big-ticket items such as cars, appliances and office equipment last month, the Commerce Department reported today.
Orders for manufactured durable goods fell 2.5% to $158.6 billion in June, following a 1.8% increase in May.
Excluding transportation, new orders increased 1.1% and excluding defense, new orders decreased 0.7%.
Shipments of manufactured durable goods in June decreased for the 11th consecutive month, the longest streak since data began being compiled in 1992. In June, shipments fell 0.2% to $168.3 billion. May's decrease was 2.1%.
Inventories of manufactured durable goods-which have been down for six consecutive months--fell 0.9% to $318.8 billion.
