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Durable goods orders rise modestly in July


    WASHINGTON (Reuters) - New orders for long-lasting U.S. manufactured goods rose far less than expected in July and, excluding transportation equipment, posted their largest decline in 1-1/2 years, according to a government report on Wednesday that pointed to a slowdown in manufacturing.

    The Commerce Department said durable goods orders rose 0.3 percent after a revised 0.1 percent fall in June. Excluding transportation, orders dropped 3.8 percent -- the biggest fall since January 2009 -- after rising 0.2 percent in June.

    Analysts polled by Reuters had forecast orders increasing 2.8 percent last month from June's previously reported 1.2 percent fall. Orders excluding transportation had been forecast to increase 0.5 percent from a previously reported 0.9 percent fall.

    (Reporting by Lucia Mutikani, Editing by Chizu Nomiyama)