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Monday, July 22, 2024
HomeNewsEconomyDurable Goods Orders Tank in June, Widely Missing Forecast

Durable Goods Orders Tank in June, Widely Missing Forecast

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American workers at a manufacturing plant for long-lasting durable goods. (PHOTO: REUTERS)

The Commerce Department reported Wednesday that durable goods orders tanked 4% in June from the prior month, widely missing the median forecast. Economists estimated durable goods would fall by a much less 1.1%.

Excluding the volatile transportation component and durable goods orders fell 0.5%. The estimate was for that part to increase by 0.3%

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PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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