U.S. durable goods orders rise 1.1% in July to $339.3 billion

Transportation equipment orders climbed 2.3% after two monthly declines

Orders for U.S. durable goods rose 1.1% in July to $339.3 billion, the Commerce Department reported. The increase exceeded the 0.5% gain that economists polled by The Wall Street Journal had forecast.

Durable goods comprise manufactured products meant to last three years or more, according to the Commerce Department’s report.

Transportation equipment led the July increase, with orders in the category rising 2.3% after declining the prior two months. New orders excluding transportation rose 0.4% in July, while orders excluding defense rose 1.3%, the Commerce Department said. June orders were reported as a 0.5% increase.