Tuesday, August 14

Durable goods orders, less aircraft, dryer

New orders for several long-lasting manufactured goods fell in June and a gauge of planned business spending plans dropped, point to a slowdown in activity in factory.

On Thursday, the Commerce Department said durable goods orders excluding transportation fell 1.1 per cent, the biggest decline since January after rising 0.8 percent in May. Economists had this category is forecast to flat last month.

As demand for aircraft, according to a top, 1.6 percent increase in the previous month revised 1.6 percent rose increased total orders.

From Reuters respondents economists had predicted orders for durable goods, items from toaster for aircraft intended for at least three years, rising from 0.4 percent previously reported 1.3 percent in May.

Details of the report were generally weak, with a decline of in new orders for computers, fabricated metal products, electrical equipment and devices and machines.

Fears of tighter monetary policy in the early year 2013 and a continuing debt crisis in Europe are demand, causing a slowdown in manufacturing activity cushioning. Factories have been the main pillar of support for the slow economic recovery.

In the past month, orders for transportation equipment fall 8.00% as demand rose by 14.3 per cent, for civilian aircraft set off a 0.6 per cent rose in new orders for motor vehicles. The decline in the car was the largest since September last year.

Non-defense capital goods orders excluding aircraft, a closely watched proxy for business plans, spending 1.4 percent after increase of 2.7 percent may.

Economists expected had this category after a previously reported 2.1 percent rise in the previous month 0.6 percent rise.

Movement from non-defense capital goods orders excluding aircraft, for the calculation of equipment and software, the issues in the report gross domestic product rose 1.2 percent after rising 1.1 percent in May.

The increase suggests spending on equipment and software grew in the second quarter, but probably nowhere near seen level in 2011.

The Government is expected to report on Friday that the economy grew at an annual rate of 1.5 percent in the second quarter, according to a Reuters poll, which slows down the 1.9 percent rate in the previous three months.

Copyright 2011 Thomson Reuters.

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