Durable goods orders in the United States rose by 1.7% in August, beating market expectations of 1.0%. The data came today after a drop of 6.8% in July, according to data from the Statistics Office.
A key factor supporting the growth of durable goods orders was a strong increase in demand for commercial aircraft and bookings to rise by up to 45%. Applications were recorded on manufactured goods. Excluding transportation, demand is up by 0.2% on a monthly basis as expected. The previous reading was revised from 0.5% to 0.6%.
Demand for capital goods rose for the eighth time in the last nine months by 0.9%. Finally, business investments recorded an annualized 8% in the last three months.
