July 29, 2009
June Swoon For Durable Goods Orders
By Matthew L. Brown
New orders for manufactured durable goods took a 2.5 percent dive in June, decreasing $4.1 billion to $158.6 billion, according to the U.S. Census Bureau.
The decrease came after two straight months of increases, including a 1.3 percent May increase. The bureau said sharp drops in orders for transportation items like automobiles and airplanes were responsible for the disappointing results.
Excluding transportation, new orders increased 1.1 percent. Excluding defense, new orders decreased 0.7 percent.
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