U.S. Durable Goods Orders Rise More Than Expected In June

(RTTNews) - After reporting an unexpected drop in new orders for U.S. manufactured durable goods in the previous month, the Commerce Department released a report on Friday showing that durable goods orders rebounded by more than expected in the month of June.

The Commerce Department said durable goods orders increased by 0.7 percent in June following a 1.0 percent decrease in May. Economists had been expecting orders to climb by about 0.5 percent.

Excluding orders for transportation equipment, durable goods orders rose by a slightly stronger 0.8 percent in June compared to a 0.1 percent drop in the previous month.