U.S. Durable Goods Orders Jump 1.1% In July, Much More Than Expected

India, Aug. 26 -- The Commerce Department released a report on Wednesday showing a sharp increase in new orders for U.S. manufactured durable goods in the month of July.

The report said durable goods orders shot up by 1.1 percent in July after climbing by 0.5 percent in June. Economists had expected durable goods orders to rise by another 0.5 percent.

The jump in durable goods orders partly reflected a notable rebound in orders for transportation equipment, which surged by 2.3 percent in July after falling by 0.5 percent in June.

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Published by HT Digital Content Services with permission from RTT News....