Rise In July Durable Goods Unexpectedly Good

WASHINGTON, D.C.: U.S. durable goods orders soared a larger-than-expected 3.3% in July, led by a surge in orders for industrial machinery and electronics. It was the biggest increase in seven months and far exceeded analysts' projections of a 0.5% gain. Minus transportation, June durable goods orders rose 3.7%, the strongest gain since February 1997. The July gain follows a revised 0.5% increase in June durable goods orders, last reported up 0.4%. The Commerce Dept. report also showed July durable goods shipments rose 0.7%, while unfilled orders were up 0.4% -- the first increase since March. Excluding defense, new orders for durable goods climbed 2.6% in July, the biggest gain since January. Main components:

  • Industrial machinery and equipment orders rose 8.4% in July, the biggest gain since January 1995. That's a rebound from June, when industrial machinery orders fell 3.9%.
  • Electronic and other electrical equipment rose 5.9%, the biggest gain since December.
  • Transportation equipment orders rose 2.0% in July. Commerce said an increase in aircraft and parts orders more than offset a decline in autos. However, new orders for civilian aircraft edged down 0.4%.
  • Primary metals orders were up 2.4%.
  • Hide comments

    Comments

    • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

    Plain text

    • No HTML tags allowed.
    • Web page addresses and e-mail addresses turn into links automatically.
    • Lines and paragraphs break automatically.
    Publish