Orders Decline for Durable Goods

Orders for durable goods such as TVs and refrigerators declined 2.1 percent in June, indicating weakening demand as the economic recovery loses steam. June’s decline followed a revised 1.9 percent increase in May.

Transportation equipment, also down for two of the last three months, had the largest decrease of 8.5 percent, the Commerce Department reported today. Nondefense aircraft and parts fells nearly 29 percent from May to June, while orders for defense-related aircraft and parts fell  more than 20 percent.