Economic Buzz: US Durable Goods Orders Rise 0.4% In September

28 Oct 2022 , 08:52 AM

A report released by the Commerce Department on Thursday showed new orders for U.S. manufactured durable goods increased by less than expected in the month of September. The Commerce Department durable goods orders rose by 0.4 percent in September following a revised 0.2 percent uptick in August. The increase in durable goods orders was partly due to a surge in orders for transportation equipment, which shot up by 2.1 percent in September after climbing by 0.6 percent in August. Orders for non-defense aircraft and parts led the way higher, soaring by 21.9 percent in September after plummeting by 8.6 percent in August. Excluding the jump in orders for transportation equipment, durable goods orders fell by 0.5 percent in September after coming in unchanged in August. Ex-transportation orders were expected to edge up by 0.2 percent. The report also showed orders for non-defense capital goods excluding aircraft, a key indicator of business spending, slid by 0.7 percent in September after climbing by 0.8 percent in August. Shipments in the same category, which is the source data for equipment investment in GDP, fell by 0.5 percent in September after inching up by 0.2 percent in the previous month. Core orders decreases for the first time since February 2022, while core shipments declined for the first time since February 2021.Powered by Commodity Insights