New orders for durable goods declined slightly in July after orders for transportation equipment slid, the U.S. Commerce Department reported today.
July orders totaled $273.5 billion, a decline of less than 0.1 percent, according to a monthly report. The result snapped a streak of four consecutive monthly gains and followed an increase of 2.2 percent for June.
Excluding transportation, new orders for durable goods rose 0.3 percent. Excluding defense, orders increased 1.2 percent.
Orders for transportation equipment dipped 0.7 percent to $93 billion. That ended a streak of three consecutive monthly increases for the category.
Within transportation, orders for defense aircraft and parts plunged 50 percent to $4.8 billion.
Other parts of the transportation category fared better.
Orders for motor vehicles and parts advanced 0.2 percent in July from the month before to $59.8 billion. Demand for trucks and SUVs still is strong, with production hampered by supply chain issues. Orders for commercial aircraft and parts surged 14.5 percent to $16.7 billion. The industry is benefiting from renewed demand for air travel.
In other categories, orders for fabricated metal products rose 1.2 percent to $37.3 billion. Orders for machinery increased 0.4 percent to $38.6 billion. Orders for primary metals slipped 1.4 percent to $20.8 billion.
The report is based on a survey of about 3,100 companies.
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