Durable goods orders for July came in at $339.3 billion, rising 1.1% month-over-month and handily beating analyst expectations.
The numbers tell a complicated story
July’s Consumer Price Index came in at 0.2% month-over-month and 2.5% year-over-year. Those figures landed roughly in line with expectations.
Core CPI showed the same 0.2% monthly increase.
The Personal Consumption Expenditures price index, which the Fed actually prefers over CPI as its inflation gauge, was projected to show a year-over-year core reading of approximately 3.3%.
