August 26, 2020

Transportation surge drives US durable goods +11.2% in July

Washington (AFP) – A spike in demand for transportation equipment sent US durable goods orders blowing past expectations with an 11.2 percent gain in July, the Commerce Department said Wednesday.It was the third consecutive monthly gain in demand for big-ticket manufactured products, with orders up to $230.7 billion in July following June’s upwardly revised 7.7 percent climb.That brought the amount closer to the level posted in February 2020 before the coronavirus pandemic hit, but it was all thanks to the strength of transportation equipment, which in July surged 35.6 percent to $74.7 billion…


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