Orders For US Durable Goods Rise 4.2 Percent
WASHINGTON (AP) — Orders for long-lasting U.S. 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 percent last month. That followed a 5.2 percent gain in May, which was revised higher. Commercial aircraft orders, which are volatile from month to month, jumped 31.4 percent. Excluding autos and airplanes, orders were unchanged.
Orders that signal companies' investment plans increased 0.7 percent, bolstered by higher demand for machinery. It was the fourth straight monthly increase for the category, which excludes volatile transportation and defense 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.