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Article: DURABLE GOODS ORDERS JUMPED 8.7% IN JULY.(BUSINESS)(MARKET MEMO)(Column)
- Article from:
- The Capital Times
- Article date:
- August 27, 2002
CopyrightCOPYRIGHT 2002 Capital Newspapers. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WASHINGTON -- ORDERS TO U.S. FACTORIES FOR BIG-TICKET GOODS, INCLUDING CARS AND COMPUTERS, JUMPED BY 8.7 PERCENT IN JULY, THE LARGEST INCREASE IN NINE MONTHS AND FAR STRONGER THAN WHAT ANALYSTS WERE EXPECTING.
The rebound reported today by the Commerce Department came after orders for costly manufactured "durable" goods -- items expected to last at least three years -- had dropped by 4.5 percent in June.
The 8.7 percent increase was the largest since a 9.2 percent advance in October.
The strength in July was broad based, with new orders rising for virtually every category tracked, except for electrical equipment and appliances, where orders ...