Durable Goods Orders Jump 4.9% In July

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With orders for transportation equipment showing a substantial rebound, the Commerce Department released a report on Wednesday showing that orders for durable goods increased by much more than expected in the month of July.

The report showed that new orders for durable goods jumped 4.9 percent in July following a revised 1.3 percent decrease in June. Economists had expected orders to increase by 3.2 percent compared to the 2.2 percent decrease that had been reported for the previous month.

With orders for transportation equipment showing a substantial rebound, the Commerce Department released a report on Wednesday showing that orders for durable goods increased by much more than expected in the month of July. (Market News Provided by RTTNews)