Business News - Durable sales up, expert sees problems

ArcaMax Publishing > Business News

Your email address is safe with us. View our Privacy policy.

Free Financial Tools:

Start planning your financial future with our free financial tools & calculators.

The Funnies:

Get free jokes, comics, and more! See them all on
our funnies page

Games:

Fun online games, quizzes, hangman and more on the games page

Durable sales up, expert sees problems

WASHINGTON (UPI) -- The U.S. Commerce Department reports durable goods orders were up 1.3 percent in July, reportedly confounding some experts who expected less.

Orders for business equipment -- defense capital goods less aircraft -- were up 2.6 percent in July and up an average of 1.2 percent over the last three months, Commerce said.

This is a very strong showing, said Peter Morici, former chief economist at the U.S. International Trade Commission, adding, however, he sees tougher times ahead.

The current picture, he said, reflects the bounce from a weaker dollar and exports, and efforts by industry to adapt to higher energy prices.

"However, with growth slowing in Europe, Japan, China, and elsewhere and the dollar recovering a bit, it is questionable whether export strength will continue," Morici says.

Copyright 2008 by United Press International

This news arrived on: 08/27/2008

Share this Story