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July durable goods new orders -6.8%, a drop.>

US DATA
US DATA: July durable goods new orders -6.8%, a larger drop than the 
-6.1% expected after the unrevised 6.4% surge in June. Ex-transport 
+0.5%, slightly ahead of the +0.4% expected. Transport orders -19.0%, 
with nondefense aircraft orders -70.7%, but defense aircraft orders 
+47.8%. Motor vehicles orders -1.2%. The unlisted transportation 
components were -9.3% according to an MNI calc. Outside of transport, 
there were gains for fabricated metals, computers and electronics, 
electrical equipment, and the "all other durables category" that offset 
a sharp decline in machinery. Primary metals were unchanged. Nondefense 
capital goods new orders were -20.2%, but were +0.4% ex. aircraft. 
Durable shipments +0.4%, with nondef cap gds shipments +2.0% and +1.0% 
ex. air. Durable inventories +0.3%, unfilled orders -0.3%. See MNI Main 
Wire. 
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