U.S. durable goods orders rise modestly in July

WASHINGTON, Aug 25 (BestGrowthStock) – New orders for long-lasting
U.S. manufactured goods rose far less than expected in July
and, excluding transportation equipment, posted their largest
decline in 1-1/2 years, according to a government report on
Wednesday that pointed to a slowdown in manufacturing.

The Commerce Department said durable goods orders rose 0.3
percent after a revised 0.1 percent fall in June. Excluding
transportation, orders dropped 3.8 percent — the biggest fall
since January 2009 — after rising 0.2 percent in June.

Analysts polled by Reuters had forecast orders increasing
2.8 percent last month from June’s previously reported 1.2
percent fall. Orders excluding transportation had been forecast
to increase 0.5 percent from a previously reported 0.9 percent
fall.
(Reporting by Lucia Mutikani, Editing by Chizu Nomiyama)

U.S. durable goods orders rise modestly in July