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Data indicates that machine tool orders are simply taking a breather before IMTS instead of hitting their peak rate of growth.

While high, durable goods orders have contracted 0.2 percent compared with one year ago, a likely sign that they have hit a peak this cycle.

For the third consecutive month, supplier deliveries is the fastest-growing component of the overall index.

Durable-goods spending accounted for its largest share of all consumer spending ever for the second month in a row, but the rate of growth in consumer durable goods spending has flattened recently.

It took almost three years, but real disposable income growth finally reached its long-term average rate of 3.1 percent.