WASHINGTON (AP) -- Orders for big-ticket manufactured goods turned in a second consecutive strong monthly performance in July, a far bigger-than-expected gain led by a huge jump in demand for commercial aircraft.The Commerce Department said Wednesday that orders for durable goods rose 1.3 percent last month, far above the slight 0.1 percent increase economists had been expecting.
The July increase matched a 1.3 percent rise in June, which was revised up from an earlier reading of 0.8 percent. Both months turned in the strongest gains since a 4.1 percent surge last December.
Economists had been expecting a far weaker showing in July reflecting their views that the manufacturing sector is being battered by the slowdown facing the overall economy. Instead, the report showed surprising strength in a number of areas.
Read More
