Updated: 27-Sep-23 09:20 ET
| August Durable Orders |
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| Updated: 27-Sep-23 09:20 ET |
Highlights
- Total durable goods orders increased 0.2% month-over-month in August (Briefing.com consensus -0.2%) following a downwardly revised 5.6% decline (from -5.2%) in July.
- Excluding transportation, durable goods orders were up 0.4% (Briefing.com consensus 0.3%) following a downwardly revised 0.1% increase (from 0.5%) in July.
Key Factors
- New orders for primary metals declined 0.6% month-over-month after declining 0.1% in July.
- New orders for fabricated metal products jumped 0.5% month-over-month on the heels of a 0.7% increase in July.
- New orders for machinery rose 0.5% month-over-month after a 0.7% increase in July.
- New orders for computers and electronic products were up 0.3% month-over-month, rebounding from a 0.6% decline in July.
- New orders for transportation equipment fell 0.2% month-over-month after declining 14.8% in July, but new orders for motor vehicles and parts increased 0.3% after increasing 0.7% in July.
- Shipments of nondefense capital goods orders excluding aircraft, which factors into GDP computations, increased 0.7% month-over-month following a 0.3% decline in July.
Big Picture
- The key takeaway from the report is that orders for nondefense capital goods excluding aircraft -- a proxy for business spending -- were up a robust 0.9% month-over-month, rebounding from a 0.4% decline in July.
| Category | AUG | JUL | JUN | MAY | APR |
| Total Durable Orders | 0.2% | -5.6% | 4.3% | 2.0% | 1.2% |
| Less Defense | -0.7% | -6.0% | 5.8% | 3.1% | -0.5% |
| Less Transport | 0.4% | 0.1% | 0.1% | 0.7% | -0.6% |
| Transportation | -0.2% | -14.8% | 11.9% | 4.2% | 4.8% |
| Capital Goods | -0.2% | -14.6% | 10.9% | 2.6% | 5.1% |
| Nondefense | -2.9% | -16.7% | 16.8% | 6.6% | 0.2% |
| Nondefense/nonaircarft (core cap gds) | 0.9% | -0.4% | -0.4% | 0.4% | 0.7% |
| Defense Cap Goods | 18.6% | 3.3% | -23.2% | -15.8% | 35.9% |
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