June durable goods orders rose
New orders for long-lasting U.S. manufactured goods rose surprisingly in June on demand for metals, machinery, electrical equipment, and military needs, even though transportation orders were weak, a government report showed today.
Durable goods orders were up 0.8 percent, after a revised 0.1 percent gain in May. When volatile transportation orders were excluded, orders climbed 2 percent last month, the sharpest rise since December. Orders for defense jumped 10.7 percent.
Non-defense capital goods excluding aircraft, viewed as a telling gauge of business spending, jumped 1.4 percent after a revised 0.1 percent decline in May.
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