Signs that U.S. manufacturing is faltering emerged from a report Friday that orders for long-lasting factory goods, excluding the volatile transportation category, fell in July for the fourth time in five months.
Overall, orders for durable goods rose a seasonally adjusted 4.2 percent in July, the Commerce Department said. But excluding aircraft and other transportation goods, orders dropped 0.4 percent. Orders for so-called core capital goods, a key measure of business investment plans, fell 3.4 percent. That’s the biggest drop since November and the fourth decline in five months.
The Associated Press
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