Economic Buzz: US durable goods orders up 0.3% in June

Durable goods orders in the United States grew by 0.3% in June compared to the previous month to a total of $334.8 billion, the Census Bureau said in a report on Monday. The figure was much lower than expected by analysts. New orders increased by 0.6% excluding transportation and 0.3% excluding defense. The rise was driven by computers and electronic products, which added 3.1% to $31.1 billion.

Shipments were up by 0.7% month-on-month in June to $330.7 billion. Computers and electronic products were also the biggest factor, improving by 2.4% to $34.7 billion.

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