Durable Goods Orders Fall Again
Saturday, August 25th, 2018 -- 7:41 AM
(AP) -Orders for long-lasting U.S. factory goods fell 1.7 percent in July, the third decrease in the past four months.The Commerce Department says that durable goods orders -- items meant to last at least three years such as autos and appliances -- totaled $246.9 billion last month. Much of that decline came from a steep 35.4 percent drop in orders for nondefense aircraft, a volatile category on a monthly basis. For most of 2018, manufacturing has been a source of strength with durable goods orders increasing 8.6 percent year-to-date.
Excluding aircraft and non-military goods, orders rose 1.4 percent in July, a positive sign for the economy. Still, U.S. trade showdowns with China, the European Union, Canada and Mexico have left many manufacturers feeling uncertain about their futures.
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