Durable Goods Orders up by 2.2%

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Wednesday, Oct 25 2017

Durable Goods Orders up by 2.2%

U.S. orders for business equipment increased more than forecast in September, indicating solid investment momentum as the third quarter drew to a close, Commerce Department figures showed Wednesday. Non-military capital goods orders excluding aircraft climbed 1.3% (est. 0.3% gain) for a third straight month. Shipments of those goods, which are used to calculate gross domestic product, rose 0.7% (est. 0.1% gain) after a revised 1.2% advance. Bookings for all durable goods jumped 2.2% (est. 1% advance) following 2% increase. Excluding transportation-equipment demand, which is volatile, orders rose 0.7% for a second month.

Shipments of capital goods excluding aircraft and military equipment rose an annualized 10.6 percent in the three months ended in September. Those figures feed into calculations for third-quarter gross domestic product; GDP data are due Friday. The September advance in durable goods orders was fairly broad- based with gains in fabricated metals, electronics, communications equipment and commercial aircraft. Boeing Co., the Chicago-based aerospace company, said it received 72 orders for aircraft in September, up from 33 the prior month.

More in this category: « UK GDP grew by 0.4% Australian Import Priced down by 1.6%, Export Prices fell 3.0% »

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