India, Aug. 26 -- Reflecting a continued plunge by orders for transportation equipment, the Commerce Department released a report on Tuesday showing a steep drop by new orders for U.S. manufactured durable goods in the month of July.
The Commerce Department said durable goods orders slumped by 2.8 percent in July after plummeting by a revised 9.4 percent in June.
The decrease was much smaller than anticipated, however, as economists had expected durable goods orders to tumble by 4.0 percent compared to the 9.3 percent plunge originally reported for the previous month.
The steep decline by durable goods orders came as orders for transportation equipment dove by 9.7 percent in July after plunging by 22.7 percent in June.
Orders for non-de...