The U.S. Commerce Department reported on Monday that the durable goods orders climbed 7.3 percent m-o-m in June, following a revised 15.1 percent m-o-m jump in May (originally a 15.8 percent m-o-m surge).

Economists had forecast a 7.2 percent m-o-m advance.

According to the report, orders for durable goods excluding transportation rose 3.3 percent m-o-m in June, following a revised 3.6 percent m-o-m increase in May (originally a gain of 4.0 percent m-o-m), missing economists’ forecast of 3.5 percent m-o-m rise.

Meanwhile, orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, increased 3.3 percent m-o-m in June after an unrevised 1.6 percent gain m-o-m in May. Economists had called for a 2.3 percent m-o-m advance in core capital goods orders in June.

Shipments of these core capital goods rose 3.4 percent m-o-m in June after a 1.5 percent m-o-m advance in the prior month (originally a 1.6 percent m-o-m increase).