The US Commerce Department said today that orders for US durable goods fell 1.0 percent in June after declining a revised 0.8 percent the previous month. The result was a bit of a surprise as analysts had expected a 1.0 percent increase.
“The number was weaker than expected and it could add to the idea that the economy is slipping into a double dip recession,” said Bruce Bittles, chief investment strategist at Robert W. Baird & Co. in Nashville.
Source: Reuters
