{"id":183223,"date":"2023-11-02T13:39:28","date_gmt":"2023-11-02T13:39:28","guid":{"rendered":"https:\/\/precoinnews.com\/?p=183223"},"modified":"2023-11-02T13:39:28","modified_gmt":"2023-11-02T13:39:28","slug":"u-s-durable-goods-orders-spike-in-september-as-aircraft-demand-soars","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/u-s-durable-goods-orders-spike-in-september-as-aircraft-demand-soars\/","title":{"rendered":"U.S. Durable Goods Orders Spike In September As Aircraft Demand Soars"},"content":{"rendered":"
With orders for transportation equipment soaring, the Commerce Department released a report on Thursday showing new orders for U.S. manufactured durable goods spiked by much more than expected in the month of September.<\/p>\n
The report said durable goods orders shot up by 4.7 percent in September following a revised 0.1 percent dip in August.<\/p>\n
Economists had expected durable goods orders to jump by 1.5 percent compared to the 0.1 percent uptick that had been reported for the previous month.<\/p>\n
The much bigger than expected increase came as orders for transportation equipment soared by 12.7 percent in September after slumping by 1.1 percent in August.<\/p>\n
Orders for non-defense aircraft and parts led the way higher, skyrocketing by 92.5 percent in September after plummeting by 17.5 percent in August.<\/p>\n
Excluding the surge in orders for transportation equipment, durable goods orders climbed by 0.5 percent in September, matching the increase in August. Ex-transportation orders were expected to rise by 0.2 percent.<\/p>\n
The report showed notable increases in orders for computers and electronic products, fabricated metal products and electrical equipment, appliances and components.<\/p>\n
The Commerce Department also said orders for non-defense capital goods excluding aircraft, a key indicator of business<\/span> spending, climbed by 0.6 percent in September after jumping by 1.1 percent in August.<\/p>\n Meanwhile, shipments in the same category, which is the source data for equipment investment in GDP, came in unchanged in September following a 0.8 percent advance in August. <\/p>\n