Economic Buzz: US durable goods orders up 1.1% in July

Durable goods orders in the United States increased by 1.1% or $3.6 billion in July, month-on-month, reaching $339.3 billion, a report published by the United States Census Bureau showed on Wednesday.

Transportation equipment led the rise in new orders, growing by $2.6 billion or 2.3% compared to June, and coming in at $116.2 billion. Excluding transportation, new orders were up 0.4%. New orders, excluding defense, gained 1.3% in the month of July.

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