U.S. durable-goods orders dip in July due to fewer plane contracts, but demand in the economy still
Source: MarketWatch
Economic Report
U.S. durable-goods orders dip in July due to fewer plane contracts, but demand in the economy still strong
Published: Aug. 25, 2021 at 8:44 a.m. ET
By Jeffry Bartash
Durable-goods orders fall 0.1% in July owing to big drop in new bookings for airplanes
The numbers: Orders for long-lasting goods fell in July for only the second time in 15 months, but the decline stemmed entirely from fewer bookings for new airplanes. Demand was strong in other parts of the economy despite widespread shortages of materials ands labor.
Orders for durable goods slipped 0.1% last month, the government said Wednesday. Economists polled by the Wall Street Journal had forecast a 0.5% decline.
Yet if transportation-related goods such as autos and airplanes are set aside, new orders rose 0.7% last month.
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The delta variant had little impact on the economy in July, but a fresh evidence suggests growth suffered a little bit of a letup in August. Service providers such as restaurants or airlines were hit harder while manufacturers appeared largely immune.
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Read more: https://www.marketwatch.com/story/u-s-durable-goods-orders-dip-in-july-due-to-fewer-plane-contracts-but-demand-in-the-economy-still-strong-11629895458