One aspect of the economic recovery may not be so durable, after all.
Orders for durable goods rose less than expected in June, following declines in the two previous months.
The government Wednesday said orders rose 0.7%, well below the consensus estimate of 1.5%. Excluding defense items, orders fell 0.4%.
May's decline was revised to 0.9%, while April's was 2.7%.
Both inventories and unfilled orders increased in June, while shipments reversed a May decline.
New orders in the defense category jumped 30.4% in June. Nondefense orders rose 1.1% to $63.7 billion.