US durable goods orders post biggest drop since August 2014

August 25, 2017 - 8:34 am

WASHINGTON (AP) — Orders for long-lasting manufactured goods sank 6.8 percent in July, the biggest fall in nearly three years, led by a drop in the volatile category of civilian aircraft. But a measure of future business investment advanced 0.4 percent.

The Commerce Department says orders for durable goods — items meant to last at least three years — reversed a sharp gain in such orders in June.

The numbers were warped by a 19 percent drop in orders for transportation equipment, a category that bounces wildly from month to month. Specifically, orders for civilian aircraft tumbled 70.7 percent in July, payback for a 129.3 percent surge in June.

Excluding transportation, orders rose a solid 0.5 percent last month.

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