Economy

US Durable Goods Orders Jump More Than Expected In August

US Durable Goods Orders Jump More Than Expected In August”

Capital goods orders not including aircraft, key to the all-important oil sector, rose 0.9%, slowing after July's 1.1% gain. A gauge of business investment was up for a second month, providing hope that a revival in manufacturing is gaining strength.

The Commerce Department's Durable Goods Orders for August will be issued at 8.30 am ET Wednesday. Sales of defense aircraft and other goods also swung low for the month, weighing on the August number, according to the monthly data.

Unfilled orders for manufactured durable goods in August, up two of the last three months, increased $0.1 billion or virtually unchanged to $1,132.3 billion. Economists believe that USA factory output should continue rising in coming months, reflecting a rebound in the global economy. So far this year, orders are up 5% over the same period of 2016. Prospects are brighter now with the dollar weakening in value this year, which makes US exports more competitive on overseas markets, and a rebound in energy drilling.

Excluding an increase in orders for transportation equipment, durable goods orders edged up by 0.2 percent in August after climbing by 0.8 percent in July.

Motor vehicle orders, which have sagged during much of 2017, rose 1.5%.



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