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Orders for durable goods make record in July

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Orders for durable goods make record in July

Aircraft orders from overseas drive growth.

New orders for durable goods increased a whopping 22.6% in July, the U.S. Census Bureau announced today. The increase follows June’s revised increase of 2.7%.  July’s increase was the largest on record.

Analysts had expected orders to increase 7.5%.

By far, the most significant element of the month’s remarkable results was aircraft orders, which increased 318%, also a record. Non-defense capital goods orders excluding aircraft, often called “core” capital goods, actually decreased 0.5% during the month, following a revised increase in June of 5.4%.

While the headline results were remarkable, the modest change in core capital goods during the month underscore the positive, albeit less-than-robust, growth expectations for the remainder of the year.

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