New orders for durable goods hit record high

It seems that “summer slump” is just an illusion as the U.S. Census Bureau reports that new orders for manufactured durable goods in July increased $55.3 billion or 22.6% to $300.1 billion. This increase, up five of the last six months, was at the highest level since the series was first published on a NAICS basis in 1992, and followed a 2.7% June increase. However, take transportation out of the mix, and new orders decreased 0.8%. Transportation equipment, up 10 of the last 11 months, drove the increase, up $56.6 billion or 74.2% to $133.0 billion. Tagging Options Domain:  All Sites read more

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New orders for durable goods hit record high

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