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US Durable Goods Orders Rise More Than Expected in July
(MENAFN) Orders for durable goods in the United States increase more than analysts anticipated in July, pointing to continued strength in demand for long-lasting manufactured products.
The value of new durable goods orders reaches $339.3 billion during the month, representing a 1.1% increase from June.
The monthly gain exceeds the 0.4% rise expected by markets and follows a 0.5% increase recorded in June.
Transportation equipment provides the main boost to the overall figure, with new orders in the category climbing 2.3% during July.
Excluding transportation equipment, durable goods orders still post a 0.4% monthly increase. Orders excluding defense equipment rise by a stronger 1.3%.
Durable goods are products designed to remain in use for at least three years, making changes in their orders an important indicator of industrial activity and future production trends.
The value of new durable goods orders reaches $339.3 billion during the month, representing a 1.1% increase from June.
The monthly gain exceeds the 0.4% rise expected by markets and follows a 0.5% increase recorded in June.
Transportation equipment provides the main boost to the overall figure, with new orders in the category climbing 2.3% during July.
Excluding transportation equipment, durable goods orders still post a 0.4% monthly increase. Orders excluding defense equipment rise by a stronger 1.3%.
Durable goods are products designed to remain in use for at least three years, making changes in their orders an important indicator of industrial activity and future production trends.
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