Durable Goods Orders Fell Unexpectedly in June

Washington, DC, July 28, 2010–Durable goods orders fell 1% in June on weaker demand for airplanes, electronics, and machinery, steel and other long-lasting manufactured products, the Commerce Department reported Wednesday.

The decrease far exceeded the expected 1.0% rise forecast by economists. It was the largest drop in total orders since August 2009.

Excluding transportation, orders fell 0.6%. Shipments fell 0.3% in June and were down 1.3% excluding transportation goods. Inventories rose 0.9% for the sixth straight monthly gain.