Friday, September 24, 2010

Durable goods orders drop 1.3% in August

Excluding transportation, new orders rose 2%

Orders for U.S.-made durable goods fell 1.3% in August, the largest decline in a year and below expectations of many economists, the Commerce Department reported today.

Excluding automotive and aircraft, new orders rose 2%.

Shipments in August fell 1.5%, compared with a gain of 2.5% in the prior month.
Inventories of durable goods rose 0.4% in August, following a gain of 0.6% in July.

Manufacturing has been slowing down , according to other recent surveys.Factories in the New York region expanded in September at the slowest pace this year, while manufacturing in the Philadelphia area contracted for a second month, according to regional Fed surveys. Manufacturing output nationwide grew 0.2 percent in August following a 0.7 percent July gain, the Fed said last week.

No comments:

Post a Comment