U.S. Durable Goods Orders Fall 18.2% in August
Source: The Wall Street Journal.
Aircraft Purchases Down from July Record High, Orders Up Outside Transportation Category
By Ben Leubsdorf and Jonathan House
Sept. 25, 2014 8:31 a.m. ET
WASHINGTONOrders for long-lasting manufactured goods tumbled last month as aircraft purchases pulled back from a July record high, but orders ticked up outside of the volatile transportation category.
New orders for durable goodsproducts like refrigerators and cars that are designed to last at least three yearsfell 18.2% in August from the prior month to a seasonally adjusted $245.43 billion, the Commerce Department said Thursday. Economists surveyed by The Wall Street Journal had expected durable-goods orders would fall 17.5% from July.
Orders had climbed 22.5% in July, revised down slightly from an initially reported 22.6% gain, thanks to a huge surge in aircraft orders.
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Thursday's report offered a hopeful sign for U.S. business spending. New orders for nondefense capital goods excluding aircraft, which are considered a leading indicator for business investment, rose 0.6% in August.
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Write to Ben Leubsdorf at ben.leubsdorf@wsj.com and Jonathan House at jonathan.house@wsj.com
Read more: http://online.wsj.com/articles/u-s-durable-goods-orders-fell-18-2-in-august-1411648278
Hat tip, Morningstar: U.S. Durable-Goods Orders Sink Record 18.2% in August on Fewer Jet Contracts
Stocks are way off.
titaniumsalute
(4,742 posts)The transportation industry is SO big (especially aircraft) that it can really move the needle either way. I just saw that Lockheed landed a $7 billion South Korea contract. That can move that monthly economic needle quite a bit alone.
CountAllVotes
(20,878 posts)I bought a new car in 2002 and I am still driving said car and have no ability nor desire to replace it.
I have a refrigerator I bought new in 2001 and it still works just fine and it has lasted a lot longer than a mere three years.
Who writes this stuff anyway?
Why don't they just use the "r" as = to recession dare I ask?
taught_me_patience
(5,477 posts)Stocks are off for a different reason.