New orders for long-lasting manufactured goods fell sharply in June, dragged down by a steep drop in aircraft demand that reversed a spike the previous month. But orders outside the volatile transportation sector rose for a third straight month, signaling steady underlying demand for business equipment.
The Commerce Department said Friday that new orders for durable goods fell 9.3 percent in June, following an upwardly revised 16.5 percent gain in May. The decline was largely driven by the aerospace sector, where nondefense aircraft orders plunged 51.8 percent after surging in May following President Donald Trump’s trade mission to the Middle…
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