US: durable goods orders rise more than expected in July

Durable goods orders in the US, which includes products designed to last at least three years, rose a seasonally adjusted 4.4% in July, the Commerce Department said Thursday.

This was the largest monthly advance since October and came well above the 3.5% rise expected. June's reading was revised to a 4.2% fall, from an earlier estimate of a 3.9% decline.

Orders for durable goods excluding transportation rose 1.5% last month, beating the 0.5% increase expected.