Orders for US durable goods rebounded in July
WASHINGTON — Orders to U.S. factories for big-ticket manufactured goods surged in July, lifted in part by the biggest increase in orders in a key investment category since January.
Orders for durable goods jumped 4.4 per cent in July, rebounding from a 4.2 per cent plunge in June, the Commerce Department reported Thursday. The changes in both months were driven by swings in the volatile category of commercial aircraft.
An important category that serves as a proxy for business investment rose 1.6 per cent in July, up from a 0.5 per cent rise in June. It was the best showing in this category in six months. The result could be a sign that business investment is starting to rebound following the big cutbacks earlier this year. The upswing in June and July followed decreases in both March and April.
American manufacturers have struggled this year with a strong dollar, which has hurt exports and a drop in investment spending in the energy sector, reflecting falling oil prices.