US Durable Goods Orders Fall Sharply
The value of new purchase orders for manufactured durable goods declined by $6.8 billion, reaching $307.4 billion. This downturn followed a revised 0.7% increase in September and was steeper than market forecasts of a 1.5% decline.
"Transportation equipment, also down following two consecutive monthly increases, drove the decrease by $7.2 billion or 6.5% to $103.9 billion," the bureau noted in its statement.
Additional declines were recorded in nondefense orders (-20.1% to $17.4 billion), defense orders (-32.4% to $6.1 billion), aircraft orders, capital goods (-5.6% to $107.4 billion), and primary metals (-0.7% to $27.2 billion).
On the other hand, machinery orders rose 0.8% to $40 billion, while manufactured metal products increased 0.5% to $41.9 billion compared to September.
Orders for non-defense capital goods excluding aircraft—a key measure of business investment plans—registered a modest 0.5% increase.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
