Neubarth
At the Ballpark July 30th
WASHINGTON (AP) -- Orders to U.S. factories for big-ticket manufactured goods increased slightly in July, but businesses spent less as the economic recovery lost momentum.
Demand for durable goods rose 0.3 percent last month, the Commerce Department said Wednesday. The overall increase was driven by a 75.9 percent increase in orders for commercial airplanes.
Without the volatile transportation sector, orders dropped 3.8 percent -- the steepest decline since January. Businesses spent less on equipment and machines. Orders for capital goods fell 8.0 percent.
Machinery and computers were especially hard-hit. Orders for machinery dropped 15 percent, the biggest decline on record for that category.
The report was grim compared to June's results. Overall orders in June declined by a revised 1.0 percent. But excluding transportation, orders rose 0.2 percent.
Demand for durable goods rose 0.3 percent last month, the Commerce Department said Wednesday. The overall increase was driven by a 75.9 percent increase in orders for commercial airplanes.
Without the volatile transportation sector, orders dropped 3.8 percent -- the steepest decline since January. Businesses spent less on equipment and machines. Orders for capital goods fell 8.0 percent.
Machinery and computers were especially hard-hit. Orders for machinery dropped 15 percent, the biggest decline on record for that category.
The report was grim compared to June's results. Overall orders in June declined by a revised 1.0 percent. But excluding transportation, orders rose 0.2 percent.