Economy
August 28, 2013
Durable Goods Orders 3MMA Rose in July to All Time High
Written by Peter Wright
New orders for manufactured durable goods declined by 7.3 percent in July from the very strong June result and following three consecutive monthly increases. The decline in civil aircraft orders was the main reason for the month on month decline. The three month moving average in July rose by 0.5 percent month on month to another all time high and by 5.7 percent year on year (Figure 1). The 3MMA year over year has increased for 43 consecutive months.
Shipments have declined for three of the last four months and were down by 0.3 percent in July to $228.8 billion. Computers and electronic products, also down three of the last four months, drove the decrease of $0.9 billion or 3.2 percent to $26.6 billion. This followed a 1.1 percent June increase.
