U.S. Durable Goods Orders Advanced More Than Forecast in June

U.S. orders for durable goods rose more than expected in June, led by a spike in demand for motor vehicles and a pickup in business activity more broadly as states reopened their economies.

Bookings for durable goods -- or goods meant to last at least three years -- increased 7.3% in June, after a downwardly revised 15.1% surge in May, Commerce Department data showed Monday. The median estimate in a Bloomberg survey of economists called for a 6.9% gain in June. Core capital goods orders, a category that excludes aircraft and military hardware, climbed 3.3%, also more than forecast.