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Economic Report: Boeing bonanza: Durable-goods orders soar 6.5% in June

Reuters
Orders for durable goods, a bellwether for the economy, got a jumbo-jet-sized boost from Boeing in June. But orders were weak aside from planes.

WASHINGTON (MarketWatch) — Orders for durable or long-lasting U.S. goods soared in June to a three-year high, but the gain was mostly a mirage: a summer bonanza for Boeing accounted for nearly the entire gain.

Durable-goods orders leaped 6.5% last month, the Commerce Department said Thursday. Economists polled by MarketWatch had forecast a 5.3% increase.

Yet if planes and autos are set aside, orders rose a scant 0.2% and a key measure of business investment fell for the first time in 2017.

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