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July Durable Goods Orders Come in Better Than Expected

New orders for manufactured durable goods in July increased $7.7 billion or 4.0 percent to $201.5 billion, the U.S. Census Bureau announced today.

The report showed a return from weakness mainly in automobiles and aircraft manufacturing. And some renewed weakness in the defense sector.

Excluding transportation, new orders increased just 0.7 percent. Cars and auto parts grew a much more than expected 11.7% over June probably illustrating a recovery from the impacts of the Japanese earthquake and tsunami.

Commercial aircraft and parts also contributed to the positive report with a 7.9% month-over-month increase in shipments and a surprising increase of 43.4% in new orders.

The negative side of the report focused on defense spending. Military aircraft and parts shipments dropped 9.7% and new orders were 6.1%. In June the same sector had seen new orders drop more than 20%.

 

 

Rich Mitchell is the Sr. Managing Editor of Conservative Daily News. His posts may contain opinions that are his own and are not necessarily shared by Anomalous Media, CDN, staff or .. much of anyone else. Find him on twitter, facebook and google+
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