Durable Goods Orders Up; Homes Sales Down

[tritsofme]

WASHINGTON (Reuters) - Orders for U.S. durable goods posted a larger-than-expected rise in July, but new home sales showed signs of buckling under the weight of higher interest rates, two government reports showed on Wednesday.

Orders for long-lasting goods gained 1.7 percent in July, their biggest monthly increase since March, the Commerce Department said. Orders aside from transportation were up a smaller 0.1 percent. June durables orders were revised up, to a 1.1 percent advance from a previously reported 0.9 percent jump.

The July number was well above Wall Street expectations for a 1.0 percent overall gain. While the number was above forecasts, economists were concerned most of the rise was in one sector.

<snip>
http://reuters.com/newsArticle.jhtml?type=businessNews&storyID=6068489

Very healthy month for durable goods, housing market is cooling off.

[The_Casual_Observer]

1. "most of the rise was in one sector"

Volitile commercial airplanes. Must have recieved a few orders this month. Everything else is down.

[Leilani]

2. I am waiting for the housing bubble

to burst!

[Frodo]

3. Don't hold your breath

Unless you live in one of the mega-hot markets.