Durable Goods Orders Beat Expectations


WASHINGTON, Aug. 24 (UPI) — U.S. durable goods orders jumped 4 percent in July, covering economists’ expectations and then some, the Commerce Department said Wednesday.

Economists expected new orders for goods that last three years or more to rise 2.1 percent. However, commerce said orders rose by $7.7 billion for all categories of durable goods to $201.5 billion and by $6.7 billion or 14.6 percent to $53 billion in the transportation category alone.

The bump in transportation was expected based on the recently announced a 100-plane AMR Corp order placed with aircraft maker Boeing.

The enormous order bumped non-defense aircraft orders up 43.4 percent after a drop of 24 percent the previous month.

Non-defense aircraft orders rose by $3.2 billion.

In July, core durable goods orders — the figures with transportation excluded — rose 0.7 percent, still better than economists’ expectations, which called for a drop of 0.2 percent.

UPI - United Press International, Inc.

Since 1907, United Press International (UPI) has been a leading provider of critical information to media outlets, businesses, governments and researchers worldwide.

Join the Discussion

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.