US durable Goods Orders unchanged in July

New orders for manufactured durable goods orders in the US stayed virtually unchanged at $273.5 billion in July, the US Census Bureau reported on Wednesday. This reading followed June’s 2.2% expansion and came in worse than the market expectation for an increase of 0.6%.

The publication further read. “Excluding defence, new orders increased 1.2%. Transportation equipment, down following three consecutive monthly increases, drove the decrease, $0.6 billion or 0.7% to $93.0 billion.”