US Durable Goods Orders Rise 1.1 Percent in July

The United States Department of Commerce reported that new orders for manufactured durable goods rose by 1.1 percent in July. This growth surpassed economist projections of a 0.5 percent increase and followed a 0.5 percent rise recorded in June.

When excluding transportation equipment, durable goods orders increased by 0.4 percent in July. This specific figure fell short of the 0.6 percent increase predicted by economists, marking a deceleration from the 1.1 percent jump in ex-transportation orders seen during June.