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.
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
