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US Durable Goods Orders Fall Sharply
(MENAFN) According to figures released Tuesday by the Census Bureau, new durable goods orders in the US dropped 2.2% in October compared to the prior month.
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.
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.
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