U.S. factory orders for large manufactured goods up 2% in June
by The Associated Press
The category, which tracks business investment, was propelled by demand for commercial aircraft and cars
WASHINGTON – Orders to U.S. factories for large manufactured goods rose last month after sharp declines the previous two months, propelled by demand for commercial aircraft and cars. A category that tracks business investment had its biggest increase in four months.
The Commerce Department said Thursday that orders for durable goods – or items meant to last at least three years – rose 2%, after a 2.3% decline in May and an even bigger 2.8% drop in April.
A category that serves as a proxy for business investment rose 1.9%, its best showing since February.
Aircraft orders, typically a volatile category, jumped about 75%, after falling more than 50% in May and almost 40% in April. Orders for cars and auto parts increased 3.1%, its biggest increase since July of 2018.
