US factory demand showed unexpected resilience in July. Commerce Department figures released Tuesday indicated durable-goods orders fell 2.8% from the prior month, less than the 3.8% drop economists predicted and a sharp moderation from June’s 9.4% slide. Excluding the volatile transportation category, bookings rose 1.1%, while non-defense capital-goods orders excluding aircraft—a proxy for business investment—also climbed 1.1%. Shipments of those core items advanced 0.7%, pointing to a steadier near-term outlook for equipment spending. Household sentiment was less upbeat. The Conference Board’s Consumer Confidence Index slipped 1.3 points to 97.4 in August, the second straight decline. The expectations gauge remained stuck below the 80 level that often foreshadows recession, and the index tracking the labor market differential fell to 9.7, its lowest since the pandemic recovery began, as more respondents said jobs were hard to get. Regional manufacturing data offered a mixed read. The Richmond Fed’s August composite index improved to –7 from –20 in July, but capital-spending intentions deteriorated further to –23, underscoring continued caution among producers. Data elsewhere painted a similarly uneven global picture. Australia’s monthly consumer-price index accelerated to a 12-month high of 2.8% in July, edging toward the top of the Reserve Bank’s 2–3% target band. In China, industrial profits fell for a third month but the pace of decline eased to 1.5% year on year, helped by an 18.9% surge in high-tech manufacturing earnings. Germany, by contrast, saw its GfK consumer-confidence gauge drop to –23.6 for September, the weakest reading in three months amid rising concern over unemployment and energy costs. Taken together, the latest releases suggest US goods producers may be regaining some momentum even as consumers grow more cautious, while inflation pressures in Australia and persistent profit stress in China and Europe highlight the divergent forces shaping the global outlook.