U.S. Sees Modest Uptick in September Durable Goods Orders
The total value of new purchase orders placed with manufacturers for long-lasting goods grew by $1.5 billion, reaching $313.7 billion during the month, the data showed.
September's increase aligned precisely with analyst forecasts and followed the prior month's stronger 3% expansion.
Transportation equipment led the gains, the bureau confirmed in its official release.
"Transportation equipment, also up two consecutive months, led the increase, $0.4 billion or 0.4% to $110.7 billion," the bureau said in a statement.
Demand for transportation goods climbed 0.4%, a significant slowdown from August's robust 8.0% jump. The category saw support from vehicles (up 0.4% versus the previous 0.6%) and defense aircraft, which surged 30.9% after the prior month's 48.3% spike.
Multiple manufacturing sectors posted growth: electrical equipment, appliances, and components rose 1.5% compared to 0.6% previously; primary metals increased 1.4% versus 0.5%; computers and electronic devices gained 0.5% after declining 1.1% in August; fabricated metal products held steady at 0.5%; and machinery edged up 0.1% following August's 2.2% advance.
Stripping out the volatile transportation sector, orders climbed 0.6%. When defense spending was excluded, the increase narrowed to just 0.1%.
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