U.S. Durable Goods Orders Jump Much More Than Expected In July

(RTTNews) - The Commerce Department released a report on Wednesday showing a sharp increase in new orders for U.S. manufactured durable goods in the month of July.

The report said durable goods orders shot up by 1.1 percent in July after climbing by 0.5 percent in June. Economists had expected durable goods orders to rise by another 0.5 percent.

Excluding orders for transportation equipment, durable goods orders climbed by 0.4 percent in July after jumping by 1.1 percent in June. Ex-transportation orders were expected to increase by 0.6 percent.