July Durable Goods Orders Rise More Than Expected
Orders for durable goods -- big-ticket items bought by businesses and consumers, from aircraft and refrigerators -- rose 4.9 percent in July, beating forecasts. It's the biggest rise since July 2007.
The figures were goosed by vehicles purchased under the government-subsidized cash-for-clunkers program, the Commerce Department said.
Forecasters expected a 3 percent gain in orders in July.
If you remove autos, orders for durable goods rose .8 percent, slightly less than expectations.
-- Frank Ahrens
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By
Frank Ahrens
|
August 26, 2009; 8:46 AM ET
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| Tags: durable goods
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Posted by: Dermitt | August 26, 2009 9:44 AM | Report abuse
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What a July. A flat August and a falling September ahead. I happen to have great expectation. Maybe too great. I'm outta here. Take it EZ.