Durable goods orders rise more than expected
Orders for big-ticket items jumped 1.8% in August
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Orders for big-ticket items jumped last month as manufacturers continued to navigate the supply-chain disruptions caused by COVID-19.
New orders for manufactured durable goods in August rose 1.8% to $263.5 billion, according to the Census Bureau. Analysts surveyed by Refinitiv were expecting a 0.7% increase.
Orders rose by an upwardly revised 0.5% in July, and have now increased in 15 of the last 16 months.
Excluding transportation, orders rose 0.2% month over month, missing the 0.5% increase that was expected. Excluding defense, new orders rose 2.4%.
Transportation equipment, which has increased three of the past four months, rose $4.2 billion, or 5.5%.
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Shipments declined for a third straight month, falling 0.5%.