New orders for U.S. manufactured durable goods unexpectedly saw a notable increase in the month of July, according to a report released by the Commerce Department on Wednesday.
The report said durable goods orders climbed by 2.0 percent in July after jumping by an upwardly revised 4.1 percent in June. The continued increase surprised economists, who had expected orders to drop by 0.4 percent.
Excluding a sharp increase in orders for transportation equipment, durable goods orders rose by a more modest 0.6 percent in July following a 1.0 percent increase in June.
The material has been provided by InstaForex Company – www.instaforex.com