- July 27, 2021
- Posted by: Stratford Team
- Category: Business
The numbers: Orders for passenger planes and other long-lasting products rose again in June even as manufacturers grappled with broad shortages of supplies and labor that are preventing a robust U.S. economic recovery from being even stronger.
Orders for durable goods climbed 0.8% last month, the government said Tuesday. Economists polled by the Wall Street Journal had forecast a 2% uptick. Business investment also rose for the 13th time in the last 14 months.
The increase fell short of Wall Street expectations mostly because new orders in the prior month were revised upwards. Bookings in May were revised up to show a 3.2% gain instead of 2.3%.
A resurgent U.S. economy has ignited an explosion in demand for cars, computers, consumer electronics and all sorts of goods, but it’s created its own problems — big shortages in both supplies and labor.
These shortages are likely to persist through the end of…
