Durable goods orders increase in the US

WASHINGTON, US: A jump in aircraft orders drove new orders for durable manufactured goods sharply higher in September, but not enough to offset the previous month's plunge, the Commerce Department reported last week.

7 Nov 2012

Orders for durable goods, products expected to last at least three years, rose 9.9% in September, well above the average analyst estimate of 8.0%.

The monthly gain was the largest since January 2010, and the fourth in the last five months, following a steep 13.1% drop in August.

The surge in September orders was driven by a rebound in commercial aircraft orders, whose plunge in the prior month had dragged the headline number down.

Aircraft orders tend to be especially volatile month-on-month. In September, orders for transportation equipment showed the biggest jump, up 31.7% to $69.6bn.

Excluding transportation, new durable goods orders rose 2.0%.

Source: AFP via I-Net Bridge