Reports Fit Expectations For Growth

Economy

Orders for big-ticket manufactured goods perked up in June, with much of the strength coming at aircraft plants. Sales of existing homes slipped a bit but remained healthy.

The reports released Friday fit economists’ expectation for a spell of steady, non-inflationary growth following a surge in the first quarter and had little impact on Wall Street.

Orders for big-ticket durable goods, items from trucks to computers designed to last three or more years, rose 2.3 percent to a record seasonally adjusted $180.6 billion in June, the Commerce Department said.

Meanwhile, sales of previously owned homes fell 2.6 percent in June to a seasonally adjusted annual rate of 4.14 million units, the National Association of Realtors said. Sales had increased 4.7 percent in May.

In another report this week, the Labor Department said the number of first-time claims for jobless benefits plunged last week to the lowest level in nearly a year.

New applications for unemployment insurance totaled a seasonally adjusted 299,000 during the week ended July 19.