Durable goods turn out to be a summer flop
A Best Buy customer looks at a display of washing machines at a Best Buy store in San Francisco. Durable goods orders fell sharply in July.
Orders for expensive things that last quite a long time are down. There's news today that orders for durable goods fell sharply in July. Bill Stone, chief investment strategist at PNC Wealth Management, explains what happened, and what this means for the economy.