By Geoffrey Smith
Investing.com -- U.S. durable goods orders were unchanged in July, breaking a four-month growth sequence but without appearing to break the underlying growth trend.
The Census Bureau said orders excluding volatile and 'lumpy' sectors such as transportation and defense both rose on the month, rising 0.3% after transportation was excluded and 1.2% excluding defense goods. Overall goods shipments rose 0.4%.
The pipeline for U.S. factories also continued to look solid, as unfilled orders for durable goods rose 0.7% to $1.127 trillion. That was their 23rd straight monthly rise.
The figures may allay some of the fears about a slowing economy generated by this month's regional business surveys from S&P Global and the New York Federal Reserve, whose Empire State Manufacturing Index slumped. The durables numbers are more in line with the Philadelphia Fed's business survey , which showed continued expansion in manufacturing, albeit at a slightly slower pace than earlier this year.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.