American workers at a manufacturing plant for long-lasting durable goods. (PHOTO: REUTERS)
The Commerce Department reported Thursday durable goods orders rose 4.4%x% in July from the prior month, higher than the median forecast calling for a gain of 3.3%. Excluding the volatile transportation component and durable goods orders rose 1.5%, higher than the estimate for an increase of 0.5%.
The data from the June report were revised to show a larger 4.2% decline, from an initial estimate of 3.9%. Through the first seven months of the year, durable goods orders were down 0.9%, compared to the same period in 2015 and are still down 4.3% in the first seven months of the year, compared with the same period in 2015.
