New orders for manufactured durable goods increased 3.4 percent to $235.3 billion in June led by strong orders for transportation equipment.
The U.S. Census Bureau announced Monday new orders for manufactured durable goods in June increased 3.4 percent to $235.3 billion, following decreases of 1.5 percent in April and 2.1 percent in May.
Transportation equipment orders, which had also fallen for two consecutive months, were a primary driver in the overall growth, increasing 8.9 percent to $78.4 billion.
The bureau noted that excluding transportation equipment orders, total durable goods only increased 0.8 percent for the month.
Shipments of manufactured durable goods, also down for the last two months, increased 0.1 percent to $239.4 billion in June, following decreases of 0.3 percent decline in May and 0.2 percent in April. Again, the increase was driven primarily by growth in transportation equipment, for which shipments grew 0.5 percent to $77.5 billion.
Durable goods orders are considered a key indicator in the overall health of the U.S. economy.
U.S. durable goods orders rebound in June
