Durable Goods Orders Surge in July

Washington, DC, Aug. 25, 2014 -- Durable goods orders rose sharply in July,  mostly due to demand for aircraft, according to the Commerce Department.

Orders for long-lasting manufactured goods rose a seasonally adjusted 22.6% to $300.1 billion in July from June.

That was the sharpest increase going back to 1992.

Excluding transportation, orders fell 0.8%, although June's gain was revised up to 3%.