Updated: 25-Oct-24 09:11 ET
| September Durable Orders |
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| Updated: 25-Oct-24 09:11 ET |
Highlights
- Durable goods orders declined 0.8% month-over-month in September (Briefing.com consensus -0.9%) following a downwardly revised 0.8% decline (from 0.0%) in August.
- Excluding transportation, durable goods orders increased 0.4% month-over-month (Briefing.com consensus -0.1%) following an upwardly revised 0.6% increase (from 0.5%) in August.
Key Factors
- New orders for primary metals increased 0.5% following a 0.8% increase in August.
- New orders for fabricated metal products jumped 2.1% following a 0.6% increase in August.
- New orders for machinery declined 0.2% following a 0.1% decline in August.
- New orders for computers and electronic products decreased 0.3% following a 0.7% increase in August.
- New orders for transportation equipment fell 3.1% following a 3.4% decline in August.
Big Picture
- The key takeaway from the report is that it had a split growth personality. A 0.5% increase in nondefense capital goods orders excluding aircraft conveyed a pickup in business spending, yet the 0.3% decline in shipments of nondefense capital goods orders excluding aircraft, which factors into GDP computations, declined 0.3% on the heels of a 0.1% decline in August and a 0.4% decline in July.
| Category | SEP | AUG | JUL | JUN | MAY |
| Total Durable Orders | -0.8% | -0.8% | 9.8% | -6.9% | 0.1% |
| Less Defense | -1.1% | -1.3% | 10.2% | -7.5% | -0.1% |
| Less Transport | 0.4% | 0.6% | -0.2% | 0.1% | -0.2% |
| Transportation | -3.1% | -3.4% | 34.6% | -20.6% | 0.6% |
| Capital Goods | -2.8% | -2.6% | 34.7% | -18.5% | 0.0% |
| Nondefense | -4.5% | -4.4% | 42.0% | -22.8% | -0.4% |
| Nondefense/nonaircarft (core cap gds) | 0.5% | 0.3% | -0.3% | 0.6% | -0.9% |
| Defense Cap Goods | 6.4% | 8.4% | 2.4% | 7.7% | 2.1% |
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