Economy
July 27, 2020
Durable Goods Orders Continue Rebound
Written by Sandy Williams
Durable goods orders rose again in June gaining 7.3 percent as a surge in auto sales helped offset a heavy decline in commercial aircraft orders. Orders for commercial aircraft and parts plummeted an astounding 462 percent last month while orders for new trucks and cars rebounded 86 percent after pandemic shutdowns.
Core capital goods, non-defense minus aircraft and a proxy for future business spending, rose 3.3 percent in June following a 1.6 percent increase in May. Demand rose for machinery, fabricated metals, primary metals, electrical equipment, appliances and components. Orders for fabricated metal products increased 4.5 percent while primary metals increased 3.6 percent.
