Durable Goods Orders Rise in June

Orders for long-lasting factory goods rose in June as the economy continued its climb back from disruptions related to the coronavirus pandemic.

Here are key takeaways from the report:

--New orders for durable goods--products designed to last at least three years--increased 7.3% in June from the previous month, the second consecutive monthly gain. Economists surveyed by The Wall Street Journal had expected orders to rise 5.4%.

--New orders for transportation equipment jumped 20%.

--Excluding the often volatile transportation category, orders were up a more modest 3.3%.

--New orders for nondefense capital goods excluding aircraft--a closely watched proxy for business investment--rose 3.3%.

Write to Jeffrey Sparshott at jeffrey.sparshott@wsj.com

  (END) Dow Jones Newswires
  07-27-20 0854ET
  Copyright (c) 2020 Dow Jones & Company, Inc.

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