Business spending pushes orders for US durable goods up in June
by Christopher S. Rugaber, The Associated Press
Commercial aircraft also helped push orders up 4.2 per cent last month, Commerce Department said
WASHINGTON—Orders for long-lasting American factory goods rose in June, bolstered by higher aircraft demand and more businesses spending that signals investment plans.
The Commerce Department says orders for durable goods increased 4.2 per cent last month.
That followed a 5.2 per cent gain in May, which was revised higher.
Commercial aircraft orders, which are volatile from month to month, jumped 31.4 per cent.
Excluding autos and airplanes, orders were unchanged.
Orders that signal companies’ investment plans increased 0.7 per cent, bolstered by higher demand for machinery.
It was the fourth straight monthly increase for the category, which excludes volatile transportation and defence orders and is a measure of businesses’ confidence in the economy.
Durable goods are items meant to last at least three years.
They include everything from computers to industrial machinery to refrigerators.