Durable Goods, Or The Reason to Ignore Most Economists

Durable goods orders (manufactured goods designed to last at least three years) increased 1.3% last month to a seasonally adjusted $219.26 billion, the Commerce Department said today. Excluding transportation, durable orders rose a promising 0.7%.

Orders in June were revised higher, also rising 1.3%; previously, June durables were seen rising 0.8%.

The report was much better than Wall Street expected; economists had forecast a decline of 0.4% for July. It should be noted that the June...



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