Orders for US durable goods rise a solid 1 per cent in June | iNFOnews | Thompson-Okanagan's News Source

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Orders for US durable goods rise a solid 1 per cent in June

July 26, 2018 - 5:35 AM

WASHINGTON - Orders for long-lasting U.S. factory goods rose in June after declining for two months, a sign manufacturing is still growing despite a series of global trade disputes.

The Commerce Department said Thursday that durable goods orders — items meant to last at least three years, from cars to appliances — rose 1 per cent in June. Excluding the volatile transportation category, orders increased 0.4 per cent, the fifth straight monthly gain.

Demand for metals, such as steel and aluminum, fell 0.4 per cent, the second straight drop. Prices for the two metals have risen sharply since the Trump administration placed duties on them this spring.

Orders for most other goods, however, remained healthy, evidence that U.S. trade fights with China, the European Union, Canada and Mexico have yet to significantly restrain manufacturing growth.

News from © The Associated Press, 2018
The Associated Press

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