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

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.