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June Durable Goods Orders Fall 2.5 Percent

Orders for durable goods made in U.S. factories fell by the largest percentage in five months, according to the Department of Commerce. Manufacturers' orders decreased by 2.5 percent, the biggest drop since a 7.8 percent plunge in January and far more than industry analysts' average prediction of a 0.6 percent decline. The drop followed two consecutive months of increases. The transportation sectors were the major cause of the decline, with orders for commercial aircraft down 38.5 percent and orders for motor vehicles down 1.0 percent; without those sectors, remaining sectors rose 1.1 percent. Durable goods are manufactured products intended to last three or more years and include automobiles, airplanes, appliances, and computers. Commerce will release updated and more detailed numbers, along with figures for nondurable goods, on August 5.

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