US durable goods orders surge record 22.6 percent

Business orders for long-lasting manufactured goods shot up by the largest amount on record in July but much of the strength came from a huge surge in demand for commercial aircraft. Outside of transportation, orders actually fell.

The Commerce Department says orders for durable goods rose 22.6 percent in July on a seasonally adjusted basis, the largest one-month gain on record. The strength came from a 318 percent increase in orders for civilian aircraft which helped lift orders for transportation equipment by a record 74.2 percent.