New orders for manufactured durable goods decreased $8.8 billion or 2.8% in July to $302.8 billion, the U.S. Census Bureau said in its most recent advance report. The drop followed a 9.4% June decrease. Excluding transportation, new orders increased 1.1%. Excluding defense, new orders decreased 2.5%. Transportation equipment led the decline, $10.9 billion or 9.7% to $101.7 billion.
Banking agencies expand bank eligibility for extended exam schedule
The federal banking agencies announced they are raising the asset threshold that certain banks must fall under to qualify for an extended 18-month examination schedule rather than a 12-month schedule.
