Posted: Jul 26, 2012 5:39 AM by Associated Press
WASHINGTON (AP) - Business cut back on orders for long-lasting U.S. factory goods last month, outside aircraft and other transportation equipment. That suggests the sluggish economy is weakening manufacturing.
The Commerce Department says that orders for durable goods rose a seasonally adjusted 1.6 percent in June. That matched May's increase. But excluding transportation equipment, orders actually fell 1.1 percent, the third decrease in four months. Durable goods are products meant to last three years, such as steel, autos and computers.
Orders for so-called core capital goods, a measure of business investment plans, fell 1.4 percent. That's the second drop in three months and indicates companies are growing more cautious about spending as the economic outlook darkens.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
PLEASE HELP US MODERATE COMMENTS
Offensive or inappropriate comments are subject to removal. To report a comment, please e-mail us at email@example.com, and include the name of the story and information on the comment.
Thank you! KSBY.com
Get deals up to 80% off here!
Find the lowest gas prices in your area
Submit your photos to KSBY
Check out our calendar of events
Watch Daybreak Web Videos in full
Save with Hot Deals across our counties!
Events across the Central Coast
Follow The CW5 on Facebook.
The KSBY online public file.
What do you think? Leave us your feedback.
KSBY is your official CA Lottery station for San Luis Obispo and Santa Barbara Counties