US Durable Goods Orders Fall Less than Expected
New orders for US durable goods declined 0.4% mom in September of 2021, following a downwardly revised 1.3% rise in August and compared to market forecasts of a 1.1% drop. It is the first decline in five months, due to ongoing supply chain disruptions. Orders declined for nondefense capital goods (-4.2%), transportation (-2.3%) namely motor vehicles and parts (-2.9%) and nondefense aircraft and parts (-27.9%), and communications equipment (-2%). Also, excluding defense, new orders decreased 2%. On the other hand, the biggest increases were seen in orders for defense aircraft and parts (104.3%); defense capital goods (28.4%); and machinery (1.1%). Meanwhile, orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, rose 0.8%, above forecasts of 0.5%. Excluding transportation, new orders increased 0.4%.
13 hours ago