U.S. Durable Goods Orders Bounce Back in August
New orders for long-lasting manufactured goods surged by $8.9 billion, pushing the total to $312.1 billion, the bureau reported. The gain marks the first positive monthly reading in three months and contrasts sharply with July’s revised 2.7% drop.
Economists had widely anticipated a 0.3% decline for August, making the stronger-than-expected rise a notable deviation from forecasts.
"Transportation equipment, also up following two consecutive monthly decreases, led the increase, $8.1 billion or 7.9% to $110.2 billion," the Census Bureau stated.
Defense-related orders were particularly robust. Bookings for defense aircraft and parts jumped 50.1%, while nondefense aircraft and parts climbed 21.6% over the month.
Excluding defense, new orders still advanced 1.9% in August. When removing the volatile transportation category, orders rose 0.4%, indicating broad-based strength across the manufacturing sector.
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