Surprisingly good news for durable goods

New orders for manufactured durable goods were up 0.8% in June for a total of $215.4 billion.
JUL 25, 2008
By  Bloomberg
Despite myriad signs of a slowing economy and rising inflation, new orders for manufactured durable goods were actually up 0.8% in June for a total of $215.4 billion. The statistics, released by this morning by the Department of Commerce, indicate that this was the second consecutive monthly increase in new orders for durable manufactured goods, after a 0.1% increase in May. Shipments of manufactured durable goods — defined as goods with a useful life of more than three years, such as televisions, large appliances and furniture — increased 0.5% to $212.2 billion, which came following a 1.2% decrease in May. Unfilled orders of durables were also up by $7.2 billion, or 0.9%, to $817.6 billion, and inventories of durables were also up to $1.8 billion, or 0.5%, for a total of $332.2 billion.

Latest News

401(k) savings rate at new record high but balances are down slightly
401(k) savings rate at new record high but balances are down slightly

Quarterly analysis of retirement accounts highlights positive behavior.

JPMorgan mulls new asset lending scheme aimed at crypto ETF investors
JPMorgan mulls new asset lending scheme aimed at crypto ETF investors

Insiders say the Wall Street giant is looking to let clients count certain crypto holdings as collateral or, in some cases, assets in their overall net worth.

Fintech bytes: Future Capital adds RayJay alum to C-suite, Advyzon welcomes ex-Envestnet leader
Fintech bytes: Future Capital adds RayJay alum to C-suite, Advyzon welcomes ex-Envestnet leader

The two wealth tech firms are bolstering their leadership as they take differing paths towards growth and improved advisor services.

UBS 'wrongfully' fired Idaho advisor in 2021: FINRA panel
UBS 'wrongfully' fired Idaho advisor in 2021: FINRA panel

“We think this happened because of Anderson’s age and that he was possibly leaving,” said the advisor’s attorney.

Cetera Trust hires Fidelity vet Kerri Scharr for chief fiduciary officer role
Cetera Trust hires Fidelity vet Kerri Scharr for chief fiduciary officer role

The newly appointed leader will be responsible for overseeing fiduciary governance, regulatory compliance, and risk management at Cetera's trust services company.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave

SPONSORED The evolution of private credit

From direct lending to asset-based finance to commercial real estate debt.