Durable Goods Orders Grew 2.2% in September

Durable Goods Orders Grew 2.2% in September”

New orders for durable goods - products created to last at least three years, like dishwashers and aircraft - rose a seasonally adjusted 2.2% in September from a month earlier, the Commerce Department said Wednesday. Core orders were predicted to advance by 0.5%, exactly as in the previous month.

In other categories, new orders for fabricated metal products rose 1.7% to $33.3 billion; orders for machinery declined 0.2% to $31.8 billion; and orders for primary metals fell 0.1% to $19.9 billion. With the gain, durables goods order have been up 3 of the last 4 months, including a 2.0% increase in August. Excluding the transportation segment, orders rose 0.7% in September. In the capital goods category, the volatile non-defense aircraft orders led the rise, growing 31.5 percent, which is the second strongly monthly rise after the outsized drop seen in July 2017. New orders are up 5.2% in the first nine months of this year compared with the same period in 2016. Transportation equipment, up two of the last three months, led the increase, $1.1 billion or 1.4% to $79.7 billion. This followed a virtually unchanged August decrease.

Nondefense new orders for capital goods in September increased $4.3 billion or 6.1% to $74.9 billion.

Also in the transportation category, new orders for motorized vehicles and parts gained 0.1% to $54.645 billion from an adjusted $54.608 billion in August. Shipments increased $1.7 billion or 2.4% to $73.5 billion. Shipments increased $0.2 billion or 1.7% to $10.6 billion.

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