US Durable Goods Orders Rose by 6.5% in June
Orders for durable goods in the US soared in June to a three-year maximum. Data from the Commerce Department showed that orders for durable goods increased by 6.5% last month. Economists predicted an increase of 3%.
Core capital goods orders decreased by 0.1% in June. However, except for aircraft and cars, orders rose by 0.2%, and the key indicator of investment in business fell for the first time in 2017.
Orders for cars and parts fell by 0.6% in June after rising by 1.6% in May. Also, orders for computers and electronic products, as well as electrical equipment, devices and components fell.