Durable Goods Orders Reached 2% Growth in July

New orders for manufactured durable goods increased 2.0 percent to $241.1 billion in July, according to the U.S. Census Bureau. The July increase followed a 4.1 percent increase in June. The majority of the increase can be attributed to a 4.7 percent gain in new orders for transportation equipment. Excluding transportation, new orders increased 0.6 percent.

New orders excluding defense increased 1.0 percent, primarily driven by a 22.3 percent increase in defense capital goods. New orders for non-defense capital goods grew 1.1 percent to $82.3 billion, while shipments increased 0.1 percent to $79.3 billion.

Shipments of manufactured durable goods, up for the past 2 months, increased 1.0 percent to $243.2 billion after a 0.9 percent increase in June.

Inventories of manufactured durable goods were virtually unchanged at $402.1 billion. Inventories grew 0.4 percent in June.

Read the Census release.