US Durable Goods on the Decline

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

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.