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| US durable goods orders soaring | US durable goods orders soaring |
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| US durable goods orders soared last month, growing at the fastest rate in two years, led by the airline sector, official figures have shown. | US durable goods orders soared last month, growing at the fastest rate in two years, led by the airline sector, official figures have shown. |
| Orders for goods expected to last more than three years increased 4.9% in July, beating analyst expectations of a 3% gain, said the Commerce Department. | Orders for goods expected to last more than three years increased 4.9% in July, beating analyst expectations of a 3% gain, said the Commerce Department. |
| It marked the third rise in the past four months, and followed a revised 1.3% fall in June. | |
| Led by the aviation sector, transport equipment orders increased 18%. | Led by the aviation sector, transport equipment orders increased 18%. |
| The increase in demand for civilian aircraft was thanks primarily to Boeing, which in July saw its largest increase in monthly orders since August last year. | |
| On the surface, it looks good, but if you look a little closer, that just underscores the continued headwinds that face the US economy Joe Manimbo, Travelex Global Business Payments | |
| Transportation orders were further lifted by increased demand for US built cars thanks to the government's "cash for clunkers" scrappage scheme, under which consumers are given money to trade in their old vehicles. | |
| New orders excluding transportation items rose 0.8%. | New orders excluding transportation items rose 0.8%. |
| The latest durable goods orders figures are just the latest indication that the US economic recovery may be gathering pace. | The latest durable goods orders figures are just the latest indication that the US economic recovery may be gathering pace. |
| They come a day after the closely-watched Conference Board Consumer Confidence Index rose by more than expected this month, while a separate study said the rate of decline in US house prices slowed in July. | |
| Analysts broadly welcomed the upbeat durable goods orders, but some cautioned that without the transportation items, demand remained subdued. | |
| "On the surface, it looks good, but if you look a little closer, that just underscores the continued headwinds that face the US economy," said Joe Manimbo, currency trader at Travelex Global Business Payments in Washington. |