Key Manufacturing Gauges Show Strong Growth in June
July 23, 2019
Even as much of the economy is showing signs of a slowdown, a key manufacturing metric is showing that there may still be steam left in the economic expansion. After seeing sharp declines for the last two months, orders of durable goods—items meant to last at least three years—saw a 2 percent increase. Orders for cars and car parts increased by 3.1 percent, the largest increase in nearly a year. Overall, a category that serves as a proxy for business investment increased by 1.9 percent, the strongest performance since February. It remains to be seen what impact the strong month will have on the second-quarter GDP, which will be released later this week.