Economy
August 27, 2020
Durable Goods Orders Surprisingly Strong in July
Written by Sandy Williams
Orders for durable goods jumped 11.2 percent in July after rising 7.7 percent in June, posting gains for the third straight month and beating all expectations. Automotive orders drove the increase, leaping 22 percent following a robust 24 percent increase in June.
Orders for core capital goods–nondefense goods excluding aircraft which are considered an indicator for future business spending–rose 1.9 percent in July, down from 4.3 percent in June.
