Durable Goods Orders Surge in September

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U.S. manufacturers saw a significant surge in durable goods orders in September, according to data released by the Census Bureau. The report shows orders for durable goods—products expected to last three years or more—rose by 1.8 percent, reaching $345.4 billion, an increase of $6.3 billion. This follows a 0.1 percent rise in August and a 0.9 percent increase in July.

Year-to-Date Growth

For the first nine months of the year, durable goods orders have increased by 8.0 percent compared to the same period last year. Excluding transportation, durable goods orders rose 0.5 percent for the month and were up 9.7 percent year-to-date.

Key Sectors

Orders for computers and related equipment increased by 3.9 percent for the month and are up 20.3 percent year-to-date, reflecting the growing investment in artificial intelligence. Orders for non-defense capital goods excluding aircraft rose 0.5 percent, with a 10.9 percent increase year-to-date, serving as a proxy for business investment.

Orders for primary metals rose 0.5 percent for the month and 16.0 percent year-to-date, while fabricated metal products rose 0.4 percent for the month and 8.8 percent year-to-date. Machinery orders increased by 1.2 percent.

Appliances and Motor Vehicles

Appliances and electrical equipment orders fell 0.3 percent for the month but are up 6.5 percent year-to-date. Motor vehicle orders rose 0.3 percent after a 0.8 percent decline in August and a 0.8 percent increase in July, with a 10.2 percent rise year-to-date.

Nondefense Aircraft and Defense Goods

Nondefense aircraft orders, a volatile category, jumped 28.4 percent, though they are down 18.0 percent year-to-date. Defense capital goods orders fell 1.8 percent after declining in the previous two months, but are up 35.0 percent year-to-date.

Source: Breitbart

Written by

Connor Davis