US durable-goods orders climb 1.1% in July, extending manufacturing rebound

New orders for US-manufactured durable goods rose 1.1% in July, beating forecasts and extending a manufacturing rebound for a third consecutive month even as elevated borrowing costs and softer consumer demand weigh on the outlook. One account put the gain above a 0.7% consensus and on top of a revised 3.4% June increase; an earlier, more detailed reading had the same 1.1% headline advance to $339.3 billion versus a 0.5% forecast, with June revised to a 0.5% rise. Orders excluding defense were reported at 1.2% in the newer release and at 1.3% in the fuller breakdown, while transportation equipment and machinery led the upturn. Core capital goods orders—a proxy for business investment—advanced, with the detailed series showing a 0.4% rise and core capital-goods shipments up 0.6%. Futures showed little immediate reaction as investors awaited Federal Reserve communications; a resilient factory sector may ease urgency for rate cuts, though inflation and labor data remain decisive, and the broader picture is of an economy slowing but not contracting sharply.

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