The Commerce Department released a report on Wednesday showing a modest decrease in new orders for U.S. manufactured durable goods in the month of July.
The report said durable goods orders edged down by 0.1 percent in July following a 0.8 percent increase in June. Economists had expected orders to decrease by 0.3 percent.
Excluding a steep drop in orders for transportation equipment, durable goods orders climbed by 0.7 percent in July after rising by 0.6 percent in June. Ex-transportation orders were expected to increase by 0.5 percent.