Aug 24, 2007 – Real U.S. shipments of non-defense capital goods excluding aircraft rose by 0.5% in July after falling by 1.1% in June (Chart 1). Reflecting that large June decline, the average gain in these shipments was just about zero for the three months through July.
Real non-defense capital good shipments excluding aircraft fell by 3.2% in July, compared to the same month last year (Chart 2). This twelve-month trend has been negative since the start of this year.
Real non-defense capital good shipments excluding aircraft rose at a 1.7% annual rate in July, compared to their Q2 average (Chart 3). For all of Q2, these shipments rose by 7.8%.
In the quarterly GDP accounts, real business fixed investment in equipment & software rose at a 2.3% annual rate in Q2. These data would be consistent with near-zero growth in Q3.
Bottom line: looks like a slow start for businesses’ real equipment & software purchases in the first month of Q3.