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US Aircrafts demand drives durable goods orders
(MENAFN) US long-lasting manufactured goods orders posted their biggest gain record in July, driven by strong overseas demand for aircrafts, Oman Observer reported.
Transportation orders increased by 74.2 percent as bookings for civilian aircraft more than tripled. Boeing said earlier it received a record of 324 aircraft orders in July.
Durable goods orders, items ranging from toasters to aircraft that are meant to last three years or more, jumped 22.6 percent in July after an upwardly revised 2.7 percent increase in June.
"Manufacturing growth is picking up and is likely to support stronger GDP growth in the second half of the year, " Chief Economist at RDQ Economics in New York said.
Transportation orders increased by 74.2 percent as bookings for civilian aircraft more than tripled. Boeing said earlier it received a record of 324 aircraft orders in July.
Durable goods orders, items ranging from toasters to aircraft that are meant to last three years or more, jumped 22.6 percent in July after an upwardly revised 2.7 percent increase in June.
"Manufacturing growth is picking up and is likely to support stronger GDP growth in the second half of the year, " Chief Economist at RDQ Economics in New York said.
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