Economy
August 25, 2018
Durable Goods Orders Drop in July
Written by Sandy Williams
Durable goods orders fell more than expected in July, dipping 1.7 percent, according to data from the Commerce Department. The decrease was primarily due to a 34 percent plunge in commercial aircraft orders. Excluding transportation, durable goods orders were up 0.2 percent.
Core capital goods, orders minus defense and aircraft, gained 1.4 percent last month for the largest increase since April. Considered an indicator of business investment, core capital goods rose 7.2 percent in the first seven months of 2018 compared to the same period in 2017.
