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