Durable Goods Orders Rebound Strongly
October 26, 2012 by UPI - United Press International, Inc.
WASHINGTON (UPI) — U.S. durable goods orders rose 9.9 percent August to September, the largest jump in nearly three years, the Commerce Department said Thursday.
After posting gains in May, June and July, new orders for goods intended to last at least three years fell sharply in August, dropping 13.2 percent to $198.5 billion.
New orders for factories rose by $19.6 billion to $218.2 billion in September. Excluding transportation, new orders for durable goods rose by 2 percent, while keeping defense orders out of the data shows a gain of 9.1 percent.
Transportation orders, which includes planes, trains, trucks and ships, rose by 31.7 percent to $69.6 billion, provided the biggest boost to the new orders data.
In another telling statistic, new non-defense capital goods orders excluding aircraft came to $60.3 billion, essentially unchanged from the previous month, the report said.
New orders, however, beat expectations, which called for a 6.9 percent rise and did far better than August, when new orders fell 13.2 percent.