Orders for big-ticket US manufactured goods jumped 11.2%

[Omaha Steve]

Source: AP

By MARTIN CRUTSINGER

WASHINGTON (AP) — Orders to U.S. factories for big-ticket manufactured goods jumped 11.2% in July, the third consecutive monthly gain.

And the jump last month was even larger than the 7.7% increase in June, the Commerce Department reported Wednesday.

The strong advance last month, however, was led by the volatile transportation sector, which spiked 35.6%. Excluding transportation, orders would have risen by a more modest 2.4%.

A closely watched category that serves as a proxy for business investment plans rose a solid 1.9% in July after a 4.3% rebound in June.



FILE - In this Jan. 27, 2020 file photo a worker pushes a cart past refrigerators at a Home Depot store location in Boston. On Thursday, June 25, orders to American factories for big-ticket goods rebounded last month from a disastrous May as the U.S. economy began to slowly reopen. (AP Photo/Steven Senne)


Read more: https://apnews.com/8afe66d1e2f146262dea708ce192b5fa

[pwb]

1. I prefer Lowe's.

.

[demigoddess]

2. Since the lockdown everyone in my neighborhood has been doing

a lot of home improvement. Gardening, painting, remodeling. Maybe that is the reason.

[DeminPennswoods]

3. That's what I think, too

No big ticket items, but I sure had plenty of home improvements done since Feb.

[ProfessorGAC]

4. This Seems Pent Up Spending

Given the pandemic, people may have been thinking about a new fridge, or lawn mower, stove, air conditioner, etc. since February.
But, concerns over job security, or short term furloughs, or just staying @ home postponed the already planned spending.
Not sure this is more than everyone depleting inventory at once because they didn't do it in March, April or May.

[Steelrolled]

5. Wait till you see travel and entertainment spending in 2021

I expect it to be through the roof. I've heard so many people chomping at the bit - if we get a vaccine and things start looking good, it is going to be wild.