Durable Goods Orders Fall in July
Published Aug 24, 2018 08:31AM ET
U.S. durable goods orders decrease 1.7% in July vs. forecast for 0.5% drop
Investing.com - Orders for durable goods, which are meant to last at least three years, fell in July, according to data released on Friday.
Durable-goods orders fell 1.7% last month, the Commerce Department said.
Economists had forecast a 0.5% decrease.
June’s reading was revised down to a gain of 0.7%, compared to an initial advance of 0.8%.
Excluding the volatile transportation sector, orders increased 0.2% in July. That missed expectations for a rise of 0.5%.
June’s reading was revised down to a 0.1% rise from an initial 0.2% increase.
A key measure of business investment, meanwhile, rose in July. Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, rose by 1.4% from a month earlier.
Economists had expected an increase of 0.4%.
The prior month’s figure was revised from an initial 0.2% advance to a gain of 0.6%
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Written By: Investing.com
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