Durable goods orders fall sharply
In a troubling sign for manufacturing, new orders for manufactured durable goods fell sharply in July.
The Commerce Department said orders fell by 7.3 percent to $226.6 billion, the largest drop since August 2012.
This decrease followed three consecutive monthly increases and a 3.9 percent June increase.
Excluding transportation, new orders decreased 0.6 percent. Excluding defense, new orders decreased 6.7 percent.
Transportation equipment, also down following three consecutive monthly increases, led the decrease, $16.7 billion or 19.4 percent to $69.7 billion. This was led by nondefense aircraft and parts, which decreased $14.5 billion.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
