U.S. Durable Goods Orders Spike 11.2% In July, Much More Than Expected

Reflecting a sharp increase in orders for transportation equipment, the Commerce Department released a report on Wednesday showing new orders for U.S. manufactured durable goods spiked by much more than expected in the month of July. The Commerce Department said durable goods orders skyrocketed by 11.2 percent in July after surging up by a revised 7.7 percent in June.Original Article