Durable Goods Orders Drop 13.2%
In its latest report on manufacturers’ shipments, inventories and orders, the U.S. Census Bureau said new orders for durable goods in August decreased $30.1 billion or 13.2% to $198.5 billion. This decrease, down following three consecutive monthly increases, was the largest decrease since January 2009 and followed a 3.3% July increase.
Excluding transportation, new orders decreased 1.6%. Transportation equipment, down following four consecutive monthly increases, had the largest decrease, $27.8 billion or 34.9% to $51.9 billion.
Shipments of manufactured durable goods in August, down two of the last three months, decreased $6.8 billion or 3.0% to $222.5 billion. This was also the largest decrease since January 2009 and followed a 1.9% July increase. Transportation equipment, down two of the last three months, had the largest decrease, $5.5 billion or 7.9% to $63.9 billion. This followed a 7.9% July increase.
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