Companies pulled back on orders for big-ticket items in July

Overall orders for durable goods—which include factory equipment, computers and washing machines—increased in nine of the past 12 months through July. (Photo; AFP) — Overall orders for durable goods—which include factory equipment, computers and washing machines—increased in nine of the past 12 months through July. (Photo; AFP)

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2 min read . Updated: 24 Aug 2022, 07:29 PM IST Bryan Mena, The Wall Street Journal

Commerce Department’s report on durable goods adds to signs manufacturing demand is cooling

Businesses pulled back on orders for long-lasting goods in July, reflecting a cooling in demand amid other signs of a slowing U.S. economy.