Business orders for U.S. factory goods shot up by a record amount in July, reflecting a surge in demand in the volatile category of
commercial aircraft.
But outside of transportation, orders actually fell slightly during the month although the setback was expected to be temporary.
Factory orders rose 10.5 percent in July, the biggest one-month increase
on records going back to 1992, the Commerce Department reported
Wednesday. Orders for civilian jetliners rose four-fold. But excluding
transportation, orders edged down 0.8 percent and a key category that
serves as a proxy for business investment plans fell 0.7 percent.
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