New orders for durable goods fell sharply in July, the U.S. Commerce Department said Monday. Durable goods orders dropped 7.3 percent to $226.6 billion, a drop of $17.8 billion that was far more than economists had expected. The consensus forecast called for a decline of about 3 percent. New orders fell after four consecutive gains. In June, new orders rose 3.9 percent over May, a figure left unrevised from the previous report. The U.S. Census Bureau said orders for big-ticket transportation items -- ships, trucks, planes and railroad cars -- fell after rising for four months out of the previous five. New transportation orders in July dropped by 19.4 percent or $16.7 billion to $69.7 billion. The biggest contribution to the decline came from commercial aircraft orders, which dropped by $14.5 billion. Shipments of durable goods, down in three of the past four months, declined by 0.3 percent to $228.8 billion. Shipments of electronic goods and computers fell by 3.2 percent to $26.6 billion. Non-defense orders for capital goods in July fell by 15.4 percent or $14.2 billion to $78 billion. That measures how much investment was plowed into business machinery in the month, including printing press and other factory equipment. It is considered a key measure of business confidence.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor