Tuesday, September 2, 2014
Inquirer Daily News

US durable goods orders surge record 22.6 percent

In this photo taken Aug. 21, 2014, Orestes Perez, right, and his niece Yanuska Perez, check a 2013 Ford Fusion SE at a local dealership in Hialeah, Fla. The Commerce Department reports on business orders for durable goods in July on Tuesday, Aug. 26, 2014. (AP Photo/Alan Diaz)
In this photo taken Aug. 21, 2014, Orestes Perez, right, and his niece Yanuska Perez, check a 2013 Ford Fusion SE at a local dealership in Hialeah, Fla. The Commerce Department reports on business orders for durable goods in July on Tuesday, Aug. 26, 2014. (AP Photo/Alan Diaz)

WASHINGTON (AP) - 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.

But excluding transportation, orders fell 0.8 percent, and a key category that serves as a proxy for business investment plans dropped 0.5 percent, but this dip came after a sizable 5.4 percent rise in the previous month.

MARTIN CRUTSINGER The Associated Press
Business Videos:
Also on Philly.com:
Stay Connected