Demand for big-ticket, long-lasting manufactured goods up in July, meeting forecasts.
August 26, 2003: 8:38 AM EDT
WASHINGTON (Reuters) - New orders for costly U.S. manufactured goods rose in July, led by the strongest demand for cars since January and solid gains in other sectors, the government said Tuesday in an encouraging report on the economy.
Orders for durable goods -- big ticket items like refrigerators, designed to last three years or more -- climbed 1.0 percent in July after a rise of 2.6 percent the previous month. The report was broadly in line with analysts' expectations for a 0.9 percent increase.
Demand for motor vehicles and parts surged 5.5 percent. Aided by record high incentives and low interest rates, July auto sales are expected to be the best of the year, U.S. automakers such as General Motors Corp. (GM: Research, Estimates) said.
Machinery orders also had a strong showing, climbing 1.8 percent, while orders for computers and electronic products rose 1.9 percent.
Excluding transportation, orders rose 1.7 percent, and excluding spending on defense orders were up 1.4 percent.
U.S. stock market futures continued to trade lower after the report, pointing to a negative opening on Wall Street. Treasury bond prices also fell.
O Clubeinvest.com informa que nenhuma da informação
aqui facultada deverá ser entendida como conselho ou recomendação
de qualquer tipo de transacção ou investimento.
