U.S. Durable Goods Orders Rebound Much Less Than Expected In June

(RTTNews) - New orders for U.S. manufactured durable goods rebounded by much less than expected in the month of June, according to a report released by the Commerce Department on Monday.

The Commerce Department said durable goods orders rose by 0.3 percent in June after tumbling by a revised 4.0 percent in May.

Economists had expected durable goods orders to jump by 1.7 percent compared to the 4.5 percent plunge originally reported for the previous month.

Excluding a modest decrease in orders for transportation equipment, durable goods orders climbed by 0.6 percent in June after surging by 1.8 percent in May. Ex-transportation orders were expected to increase by 0.9 percent.