While a report released by the Commerce Department on Tuesday showed new orders for U.S. manufactured durable goods saw continued growth in the month of June, the increase came in well below expectations.
The report said durable goods orders climbed by 0.8 percent in June after spiking by an upwardly revised 3.2 percent in May.
Economists had been expecting orders to surge up by 2.1 percent compared to the 2.3 percent jump that had been reported for the previous month.
Excluding orders for transportation equipment, durable goods orders rose by 0.3 percent in June following a 0.5 percent increase in May. Ex-transportation orders were expected to climb by 0.8 percent.
For comments and feedback contact: editorial@rttnews.com
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
