Reflecting a steep drop in new orders for transportation equipment, the Commerce Department released a report on Thursday unexpectedly showing a sharp decline in orders for durable goods in the month of June.
The Commerce Department said durable goods orders plunged by 6.6 percent in June after inching up 0.1 percent in May. Economists had expected durable goods orders to rise by 0.3 percent.
The unexpected decrease by durable goods orders came as orders for transportation equipment plummeted by 20.5 percent in June after climbing by 0.6 percent in May.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.