Durable Goods Orders Fall 1% in June

Durable goods orders dropped 1% in June, the second consecutive monthly decline, the Commerce Department said Wednesday.

The increase followed a 0.8% drop in May that was larger than originally reported.

Economists had forecast durables orders to increase 1%.

Excluding transportation equipment orders, which tend to be volatile, orders fell 0.6%, Commerce said.

Durable goods include large items such as refrigerators and air conditioners. Trucking is a major beneficiary of durable goods manufacturing, hauling both components and finished goods.