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August Orders for Big-Ticket Goods Made in U.S. Beat Expectations
Business spending on equipment rose as orders for machinery and electrical equipment climbed, while economists had expected a smaller gain, Reuters reported.
- The Commerce Department's Census Bureau reported on Friday that core capital goods orders jumped 1.6% to $88 billion in August, exceeding Economists' expectations of 0.5% growth.
- Business spending on equipment has notched two straight quarters of double-digit growth, largely fueled by aggressive investment in artificial intelligence infrastructure buildout.
- Machinery Manufacturing orders spiked 15.1% year-over-year to $45.5 billion, while Fabricated Metal Product Manufacturing jumped 8.6% to $45 billion and Computer orders held at $31 billion.
- Total Orders remained unchanged at $339 billion as transportation equipment declined, illustrating how sporadic large aircraft orders create volatility in the sector.
- Rising fuel and transport costs pushed input costs to their steepest rate in four years during Sept, with supply chain Backlogs threatening to amplify inflation pressures in coming months.
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The Guam Daily Post+7 Reposted by 7 other sources
August orders for big-ticket goods made in U.S. beat expectations
(The Center Square) – August’s durable goods orders were down slightly from July’s at just over $338.6 billion but up from a year ago by 8.5% or $26.5 billion, according to the latest Census Bureau report.
Durable goods orders totaled $338.6 billion in August, becoming virtually unchanged from the previous month's adjustment, according to data released this Friday by the U.S. Department of Commerce. The result came stronger than the consensus of a group of economists, which predicted a drop of 0.3%. Excluding the transport sector, there was a 0.3% increase in new orders. Already in metrics without the defense sector, the increase reached 0.1%.
·Rio de Janeiro, Brazil
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Total News Sources24
Leaning Left0Leaning Right6Center7Last UpdatedBias Distribution54% Center
Bias Distribution
- 54% of the sources are Center
54% Center
C 54%
R 46%
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