Orders for long-lasting U.S.-manufactured goods fell in June, dragged lower by a sharp drop in commercial aircraft bookings that erased the prior month’s surge, while broader measures of business investment remained relatively stable.
The Department of Commerce said on July 25 that durable goods orders fell by 9.3 percent last month after a revised 16.5 percent jump in May. Excluding defense, orders were down 9.4 percent.
Transportation equipment—the most volatile category—sank 22.4 percent in June, led by a 51.8 percent plunge in nondefense aircraft orders. In May, by contrast, transportation equipment orders soared by 48.3 percent, driven by a 230.8 percent surge in commercial aircraft orders….