Orders for durable goods, which are meant to last at least three years, rose in June, according to data released on Thursday.
Durable goods orders rose 1.0% last month, the Commerce Department said. Economists had forecast a 3.0% increase.
May’s reading was revised to a drop of 0.3%, compared with an initial decline of 0.4%.
Excluding the volatile transportation sector, orders increased 0.4% in June. That also missed expectations for a rise of 0.5%.
May’s reading was revised up to a 0.3% rise from an initially flat reading.
A key measure of business investment, meanwhile, rose in June. Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, rose by 0.6% from a month earlier.
Economists had expected an increase of 0.4%.
The prior month’s figure was revised from an initial 0.3% advance to a gain of 0.7%
