New orders for durable goods rose in June, paced by transportation-related industries, the Commerce Department reported today.
Orders totaled $246 billion last month, a 2 percent gain from an adjusted $241 billion the month before. The increase snapped a streak of two monthly declines.
Transportation equipment saw a monthly increase of 3.8 percent to almost $80.5 billion. That gain also ended a streak of two monthly declines.
Within transportation, orders for commercial aircraft and parts soared 75.5 percent to $6.24 billion.
Also helping out the transportation sector was a 3.1 percent increase for motor vehicles and parts to $62.6 billion. However, orders for military aircraft and parts slid 32 percent to $2.88 billion.
Transportation, for the most part, has helped durable goods orders. The commercial aircraft category has been a wild card, displaying volatility. When commercial aircraft has a good month, overall durable goods orders increase. When the category has a bad month, it drags down overall orders.
Excluding transportation, durable goods orders gained 1.2 percent, the department said. Excluding defense, orders advanced 3.1 percent.
Among other categories:
–Orders for machinery rose 2.4 percent to $33.4 billion.
–Orders for fabricated metal products increased 2.1 percent to $34.3 billion.
–Orders for primary metals gained 0.8 percent to $20.5 billion.
The monthly report is based on a survey of about 3,100 companies designed to provide information on monthly changes in manufacturing.