The Department of Commerce has revealed that durable goods orders fell significantly, by 2.1%, during the month of June. The fall translates to about $4 billion in economic losses.

This decrease, down two of the last three months, followed a 1.9 percent May increase. Excluding transportation, new orders increased 0.1 percent. Excluding defense, new orders decreased 1.8 percent. Transportation equipment, also down two of the last three months, had the largest decrease, $4.2 billion or 8.5 percent to $45.4 billion. This was due to nondefense aircraft and parts which decreased $2.8 billion.

Worse yet, inventories are on the rise. Which means people aren’t buying available goods. Inventories, which have been up for 18 consecutive months now, rose by another $1.6 billion.

Reuters says the news is worse than expected.

Economists polled by Reuters had expected orders to rise 0.3 percent last month after May’s previously reported 2.1 percent increase.

Worse than expected. Get used to that phrase.