- Durable goods orders in the U.S. rose by 9.9% in July, far exceeding expectations.
- A significant increase in transportation equipment orders was the main driver of this recovery.
- Non-defense capital goods orders, excluding aircraft, which indicate business investment, surprisingly fell by 0.1%.
Washington, August 27 (FinanceFlashNews.com) – Durable goods orders in the U.S. surged by 9.9% in July, marking a strong rebound after a 6.9% decline in June, according to the U.S. Department of Commerce. Economists had initially forecasted a more modest increase of 4%.
The primary factor behind this surge was a sharp rise in transportation equipment orders, which jumped by 34.8% in July following a 20.6% decline in the previous month. However, excluding transportation equipment, durable goods orders fell by 0.2% after a slight increase of 0.1% in June.
Orders for non-defense capital goods excluding aircraft, a key indicator of business investment, decreased by 0.1% last month, following a 0.5% increase in June. Economists had anticipated no change, but the data revealed a slight decline.
Table: U.S. Durable Goods Orders Trends
| Month | Durable Goods Orders (%) | Transportation Equipment Orders (%) | Orders Excluding Transportation Equipment (%) |
|---|---|---|---|
| June | -6.9 | -20.6 | 0.1 |
| July | 9.9 | 34.8 | -0.2 |
Keywords: durable goods orders, U.S. economy, transportation equipment, business investment, U.S. Department of Commerce
