WASHINGTON – New orders for durable goods increased 0.3% in July, the first rise in three months, on a large gain in nondefense aircraft purchases as orders excluding transportation sank, the Commerce Department reported today.
Excluding transportation orders, durable goods fell 3.8%, more than expected and the largest drop in 18 months.
Economists expected durable goods would fall 1.2% and orders excluding transportation goods would decline 0.9%, according to the median estimate from Thomson Reuters.
Durable goods orders for June were revised higher to a 0.1% decline from a 1.0% drop reported last month. June orders excluding transportation were revised to a 0.2% dip from the initially reported 0.6% decline.
Nondefense capital goods excluding aircraft fell 8.0% in July. Shipments dropped 1.5% and unfilled orders declined 0.4%. Nondefense capital goods fell 2.8%, the largest decline since March 2009.
Orders for machinery fell 15.0% in July, the largest decline on record.
Transportation equipment orders increased 13.1% and motor vehicle orders gained 5.3%.
Total unfilled orders slipped 0.1% in July.
