U.S. Durable Goods Orders Jump More Than Expected In September
- On Tuesday, the Commerce Department's Census Bureau reported that non-defense capital goods orders excluding aircraft rose 0.5% in September, missing the 0.7% forecast from economists polled by Reuters.
- Business spending on equipment has experienced two straight quarters of double-digit growth, largely fueled by aggressive investment in Tech, helping to underpin manufacturing and the overall economy.
- Shipments of core capital goods vaulted 1.2% last month after gaining 0.6% in September, factoring into the business spending component of the gross domestic product report.
- Economists expect the government's advance estimate of gross domestic product on Thursday to show the economy grew at more than a 3.0% annualized rate in the third quarter.
- Doubts are mounting over the huge cost of building out Tech infrastructure, as investors increasingly focus on long-term projects where payoff remains uncertain despite robust equipment spending.
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U.S. Durable Goods Orders Jump 1.8% in September as Manufacturing Demand and Business Investment Strengthen
Orders for long-lasting manufactured goods climbed to $345.4 billion in September, marking the sixth increase in seven months as aircraft purchases, computer equipment and business ... The post U.S. Durable Goods Orders Jump 1.8% in September as Manufacturing Demand and Business Investment Strengthen first appeared on [your]NEWS.
U.S. durable goods orders rose 1.8% in the August to September passage and totaled $345.4 billion, according to data from the Department of Commerce. The result was slightly above the 1.7% high projected by market analysts. Excluding transport orders, new orders increased 0.5% in September. And, excluding the defense sector, orders increased 2.2%. David Paul Morris/Bloomberg
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