Economics
US Durable Goods Orders Post Surprise Gain on Defense Aircraft
- Bookings climbed 1.9% in June; capital goods orders also rose
- High inflation likely played role in boosting durables orders
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Orders placed with US factories for durable goods rose unexpectedly in June, fueled by a surge in defense aircraft as well as sustained demand for equipment.
Bookings for durable goods -- items meant to last at least three years -- increased 1.9% in June after a 0.8% advance a month earlier, Commerce Department figures showed Wednesday. However, the figures aren’t adjusted for inflation.