August Orders for Big-Ticket Goods Made in U.S. Beat Expectations
Business spending on equipment rose as orders for machinery and electrical equipment climbed, while economists had expected a smaller gain, Reuters reported.
- The Commerce Department's Census Bureau reported that core capital goods orders jumped 1.6% to $88 billion on Friday, exceeding Economists' expectations of 0.5% growth.
- Business spending on equipment has notched two straight quarters of double-digit expansion, largely fueled by aggressive investment in artificial intelligence infrastructure buildout.
- Machinery Manufacturing orders spiked 15.1% year-over-year to $45.5 billion, while Fabricated Metal Product Manufacturing jumped 8.6% to $45 billion and Computer orders held at $31 billion.
- Total Orders remained unchanged at $339 billion as transportation equipment Orders fell, illustrating sector volatility driven by sporadic large Boeings purchases.
- Rising fuel and transport costs pushed input costs to their steepest rate in four years during Sept, creating supply chain Backlogs that may amplify inflation pressure in coming months.
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The Times of Northwest Indiana
Business spending on equipment rose in Aug.
WASHINGTON — New orders for key U.S.-manufactured capital goods increased more than expected in August and data for the prior month was revised sharply higher, pointing to another quarter of robust growth in business spending on equipment amid an artificial…
The Guam Daily Post
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August orders for big-ticket goods made in U.S. beat expectations
(The Center Square) – August’s durable goods orders were down slightly from July’s at just over $338.6 billion but up from a year ago by 8.5% or $26.5 billion, according to the latest Census Bureau report.
Durable goods orders totaled $338.6 billion in August, becoming virtually unchanged from the previous month's adjustment, according to data released this Friday by the U.S. Department of Commerce. The result came stronger than the consensus of a group of economists, which predicted a drop of 0.3%. Excluding the transport sector, there was a 0.3% increase in new orders. Already in metrics without the defense sector, the increase reached 0.1%.
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