Transportation Equipment Drives August Durable Goods Uptick
In its latest report on manufacturers’ shipments, inventories and orders, the U.S. Census Bureau said new orders for manufactured durable goods in August increased $0.3 billion or 0.1% to $224.9 billion.
This increase, up four of the last five months, followed an 8.1% July decrease. Excluding transportation, new orders decreased 0.1%. Excluding defense, new orders increased 0.5%.
Transportation equipment, also up four of the last five months, drove the increase, $0.5 billion or 0.7% to $67.9 billion. This was driven by motor vehicles and parts, which increased $1.1 billion.
Shipments of manufactured durable goods in August, up following two consecutive monthly decreases, increased $2.1 billion or 0.9% to $231.5 billion. This was at the highest level since the series was first
published on a North American Industry Classification System basis in 1992, and followed a 0.1% July decrease.
To read the full report click here.