New orders for durable goods soar to record high


It seems that "summer slump" is just an illusion as the U.S. Census Bureau reports that new orders for manufactured durable goods in July increased $55.3 billion or 22.6% to $300.1 billion. This increase, up five of the last six months, was at the highest level since the series was first published on a NAICS basis in 1992, and followed a 2.7% June increase. However, take transportation out of the mix, and new orders decreased 0.8%.

Transportation equipment, up 10 of the last 11 months, drove the increase, up $56.6 billion or 74.2% to $133.0 billion.

On July 31, Boeing Co. concluded a sale of 40 wide-body 777s valued at $13 billion to All Nippon Airways (ANA), the launch customer for Boeing's 787. ANA has become the world's largest customer for the Boeing Dreamliner with a total of 80 airplanes in its fleet. A few days ago Boeing announced it won an order totaling $8.8 billion from BOC Aviation Pte for 82 planes including two wide-body 777s.
Read more