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U.S. Durable Goods Orders Rebound As Orders For Transportation Equipment Skyrocket

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
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With orders for transportation equipment showing a substantial rebound, the Commerce Department released a report on Monday showing a sharp increase by new orders for U.S. manufactured durable goods in the month of July.

The Commerce Department said durable goods orders spiked by 9.9 percent in July after tumbling by a revised 6.9 percent in June.

Economists had expected durable goods orders to jump by 4.0 percent compared to the 6.7 percent plunge that had been reported for the previous month.

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