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.