U.S. Durable Goods Orders Increase 4.9% on Aircraft

Orders for U.S. goods meant to last several years jumped in July by the most in two years, stoked by a surge in demand for aircraft and communications equipment.

Bookings for durable goods climbed 4.9 percent, exceeding forecasts and the most since July 2007, the Commerce Department said today in Washington. Excluding transportation gear, orders increased 0.8 percent, a third consecutive gain.

The administration’s $3 billion “cash-for-clunkers” plan has revived sales, indicating manufacturers such as General Motors Co. and Ford Motor Co. may soon be flooded with orders to restock depleted inventories. That may also give related industries a jolt, leading to a factory rebound that will help the economy emerge from the worst recession since the 1930s.

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- Posted: 2009-08-26 11:16:42

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