US durable goods orders rose 9.9% in July, with transportation equipment driving the increase.
US durable goods orders jumped 9.9% in July, marking the fifth increase in six months. The total value of new orders for manufactured durable goods increased to $289.6 billion, a $26.1 billion rise. The transportation equipment sector drove the overall increase, with a 34.8% rise, while excluding transportation, new orders decreased by 0.2%. Business equipment orders placed with US factories also declined in July, suggesting cautious investment behavior among firms.
August 26, 2024
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