US Durable Goods Orders Surge Record 22.6 Percent
Business orders for long-lasting manufactured goods shot up by the largest amount on record in July. But most of the strength came from demand for commercial aircraft, which tends to fluctuate sharply from month to month. Outside of transportation, orders dipped. Despite the broader weakness in July, most analysts said factory output will likely support solid economic growth in the second half of this year as companies increase their orders for the equipment they need to meet rising demand. Paul Dales, senior U.S. economist at Capital Economics, noted that some manufacturers are starting to run out of production capacity and that loans to businesses are up sharply.
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