US factory orders for large manufactured goods surged 2% in June

• Orders to U.S. factories for large manufactured goods rose last month after sharp declines the previous two months.
• Durable goods orders were propelled by demand for commercial aircraft and cars.
• A category that tracks business investment had its biggest increase in four months.

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Orders to U.S. factories for large manufactured goods rose last month after sharp declines the previous two months, propelled by demand for commercial aircraft and cars. A category that tracks business investment had its biggest increase in four months.

The Commerce Department said Thursday that orders for durable goods — or items meant to last at least three years — rose 2%, after a 2.3% decline in May and an even bigger 2.8% drop in April.

A category that serves as a proxy for business investment rose 1.9%, its best showing since February.

Aircraft orders, typically a volatile category, jumped about 75%, after falling more than 50% in May and almost 40% in April. Orders for cars and auto parts increased 3.1%, its biggest increase since July of 2018.