U.S. durable-goods orders rise 4.0% in July
U.S. durable-goods orders rise 4.0% in July (by Jeffry Bartash)
WASHINGTON (MarketWatch) - U.S. orders for durable goods rose 4% in July as demand for autos and commercial aircraft surged, the government reported Wednesday. Orders for June were also revised up to show a 1.3% drop instead of a 1.9% decline, according to Commerce Department data. Economists surveyed by MarketWatch had expected orders to rise by 2.5%. Yet orders for core capital goods, which omit the volatile defense and transportation sectors, fell by 1.5%. Core capital orders give a better read on trends in the private sector. In addition, shipments of core capital equipment goods, which the government uses to help calculate gross domestic product, edged up 0.2% in July. Orders for transportation equipment jumped 14.5%, while orders for motor vehicles and parts increased 11.5%. Orders for most other goods fell.