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Thursday, November 7, 2024
HomeNewsEconomyDurable Goods Orders More than Double Median Forecast in September

Durable Goods Orders More than Double Median Forecast in September

A 787 Dreamliner being built for Air India is pictured at South Carolina Boeing final assembly building in North Charleston, South Carolina. (Photo: Reuters)
A 787 Dreamliner being built for Air India is pictured at South Carolina Boeing final assembly building in North Charleston, South Carolina. (Photo: Reuters)

A 787 Dreamliner being built for Air India is pictured at South Carolina Boeing final assembly building in North Charleston, South Carolina. (Photo: Reuters)

The U.S. Census Bureau said new durable goods orders increased $5.1 billion, or 2.2% to $238.7 billion in September, easily beating the 1.0% median forecast. With the gain, durables goods order have been up 3 of the last 4 months, including a 2.0% increase in August.

Excluding transportation, so-called core new durable orders gained 0.7%. Excluding defense, new orders increased 2.0%. Transportation equipment, also up three of the last four months, led the increase, $4.0 billion or 5.1% to $81.2 billion.

Shipments of manufactured durable goods in September, up four of the last five months, increased $2.4 billion or 1.0 percent to $240.5 billion. This followed a 0.7% August increase. Transportation equipment, up two of the last three months, led the increase, $1.1 billion or 1.4% to $79.7 billion.

Unfilled orders for manufactured durable goods in September, up following two consecutive monthly decreases, increased $2.8 billion or 0.2% to $1,135.1 billion. This followed a virtually unchanged August decrease. Transportation equipment, also up following two consecutive monthly decreases, led the increase, $1.5 billion or 0.2 percent to $772.1 billion.

Inventories of manufactured durable goods in September, up fourteen of the last fifteen months, increased $2.4 billion or 0.6% to $403.6 billion. This followed a 0.5% August increase. Transportation equipment, up three consecutive months, led the increase, $0.8 billion or 0.7% to $130.8 billion.

Nondefense new orders for capital goods in September increased $4.3 billion or 6.1% to $74.9 billion. Shipments increased $1.7 billion or 2.4% to $73.5 billion. Unfilled orders increased $1.3 billion or 0.2% to $704.8 billion. Inventories increased $1.4 billion or 0.8% to $179.9 billion. Defense new orders for capital goods in September increased $0.5 billion or 4.1% to $11.5 billion. Shipments increased $0.2 billion or 1.7% to $10.6 billion. Unfilled orders increased $0.9 billion or 0.7% to $143.9 billion. Inventories decreased $0.1 billion or 0.3% to $23.4 billion.

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PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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