Economy
August 27, 2017
Durable Goods Orders Plummet in July
Written by Sandy Williams
Durable goods orders fell 6.8 percent in July, their largest margin since August 2014, as orders for volatile aircraft orders plummeted. Orders for civilian aircraft plunged 70.7 percent after a 129.3 percent surge in June. Transportation equipment orders in total dropped 19.0 percent.
The drop in July was expected by economists after the strong gains in June. Durable goods are items expected to last for three or more years; orders for such goods are a measure of consumer confidence. Excluding transportation, orders rose 0.5 percent.
