New Durable Goods Orders Stall in July

Durable goods orders stalled out in July, in another sign that the economy is cooling, if not already in recession. Economists polled by the Wall Street Journal had expected 1 percent growth.

New orders for manufactured durable goods in July decreased less than $0.1 billion or virtually unchanged to $273.5 billion, according to a report released by the US Census Bureau today. This decrease, down following four consecutive monthly increases, followed a 2.2 percent June increase. 

  • Excluding transportation, new orders increased 0.3 percent.
  • Excluding defense, new orders increased 1.2 percent.

Transportation equipment, down following three consecutive monthly increases, drove the decrease, $0.6 billion or 0.7 percent to $93.0 billion.

 

 

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