Durable Goods Sale Decrease While Businesses Spend More

According to the U.S. Commerce Department, sales for durable goods, which include electronics, furnishings such as bedroom furniture, and other long-lasting goods, decreased by 1% in June. RealtyTrac says foreclosures have also increased during the first six months of the year. This was largely observed in metropolitan areas with population of over 200,000.

Meanwhile, businesses are shown to have increased spending in equipment. This may mean that companies are confident of the continuation of the economic recovery and are equipping themselves to be able to meet market demands.

Jim Sullivan, a New York economist, says that the improvement trend is still intact, though it had been slow going for the past two months.

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