Economy
August 25, 2016
Durable Goods Orders Rebound in July
Written by Sandy Williams
Durable goods orders gained 4.4 percent in July following two months of declines, according to the latest report by the Commerce Department. The rebound was led by a surge in commercial aircraft orders which soared 90 percent after a 50 percent tumble in June. Nearly all categories comprising the new orders index showed increases in July. When excluding the volatile transportation category, the new orders index rose 1.5 percent.
Core capital goods orders, a proxy for business investment, increased 1.6 percent on stronger demand for business equipment and machinery. July shipments for core capital goods were down 0.4 percent.
