Durable Goods Orders Decline

The Commerce Department reported a 1.3% decline in orders for US-manufactured durable goods in August. This decline was the maximum in a year, with a downturn in transportation equipment orders.

Economists had expected a 1.4% decline in the orders for durable-goods. New orders rose 2%, excluding transportation.

Shipments dipped 1.5% in August, as compared to a gain of 2.5% in the previous month. Durable goods inventories rose 0.4% in August, after it had gained 0.6% in July.

Durable goods orders were revised up by 0.7%, as compared to a prior estimate of 0.4%.

A 4.1% rise in August orders for non-defense capital goods was recorded, as compared to a 5.3% decline in the previous month.

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