Here Come Durable Goods...

Benny Zheng

The latest report on durable goods orders from Census is expected at the bottom of the hour.

Expectations are for orders in July to show an increase of 8%, according to data from Bloomberg.

There is, however, a massive range of expectations for this report, as aircraft orders in July surged, potentially pushing the headline increase in durable goods orders as high as 30%.

Ian Shepherdson at Pantheon Macroeconomics notes that the consensus for ex-transportation orders is a more modest 0.5% increase. Shepherdson adds that, "As always, we are more interested in the core capex component" of the durable goods report.

In June, durable goods orders rose 0.7%, topping expectations for 0.5%.

We'll be back with the live numbers when they hit.