‘Big Ticket’ Orders Off in July

Orders for “big ticket” durable goods, led by transportation equipment and defense items, fell 1.5% in July, the first decline since January, the government reported today.

The Commerce Department said orders for durable goods, items expected to last three or more years, dropped $1.7 billion to a seasonally adjusted $107.5 billion last month after a 2% increase in June. The July decline was led by a 5.7% drop in transportation equipment. In that category, declines in motor vehicles and parts, and shipbuilding and tanks more than offset an increase in orders for aircraft and parts.