Economic Buzz: US Durable Goods Orders Slip 0.2% In August

28 Sep 2022 , 08:54 AM

A report released by the Commerce Department on Tuesday showed a modest decrease in new orders for U.S. manufactured durable goods in the month of August. Durable goods orders slipped by 0.2 percent in August after edging down by 0.1 percent in July. The modest decreases seen in July and August came after durable goods orders spiked by 2.3 percent in June. The continued dip by durable goods orders was largely due to a steep drop in orders for transportation equipment, which tumbled by 1.1 percent in August after sliding by 0.7 percent in July. Powered by Commodity Insights