New orders for durable goods in the US climbed 1.1% in July, comfortably topping market expectations and extending what’s looking like a quiet winning streak for American manufacturing.
The number marks a meaningful acceleration from June’s 0.3% gain, which itself was a recovery act following May’s bruising 4.0% decline.
What drove the numbers
The star of July’s report was computers and electronic products, where orders jumped 3.1%.
The data comes from the US Census Bureau’s Manufacturers’ Shipments, Inventories, and Orders survey, better known as the M3. It’s one of those acronyms economists whisper reverently because it feeds directly into GDP estimates, Federal Reserve deliberations, and the general vibe check on whether American factories are humming or stalling.
