US: Durable Goods Orders surge by 11.2% in July vs. 4.3% expected

Durable Goods Orders in the United States expanded by 11.2%, or $23.2 billion, on a monthly basis to $230.7 billion in July following June's increase of 7.7% (revised from 7.3%), the US Census Bureau reported on Wednesday. This reading beat the market expectation of 4.3% by a wide margin.

Developing story...