Widget Image
Follow PPD Social Media
Follow Us:
People's Pundit Locals Community
Tuesday, May 17, 2022
HomeNewsEconomyDurable Goods Fall For Second Consecutive Month In September

Durable Goods Fall For Second Consecutive Month In September

durable-goods-reuters

American workers at a manufacturing plant for long-lasting durable goods. (PHOTO: REUTERS)

Orders for durable goods, which are designed to last at least three years, fell for the second consecutive month in September, according to a report from the Commerce Department. The report is the latest sign of falting improvement in the economy.

Purchases of durable goods in the U.S. — such as airplanes, cars, and heavy machinery — fell by 1.3 percent in the month of September from the prior month to a seasonally adjusted $241.63 billion. The data widely missed the expectations of economists surveyed by The Wall Street Journal, who had forecast orders would increase by 0.7 percent in September.

Excluding the volatile transportation category, orders fell a smaller 0.2 percent, while excluding defense goods, orders fell 1.5 percent.

Business confidence weighed down durable goods orders in August, with orders falling 18.3 percent, which was slightly less than a previously reported 18.4 percent decline. Though orders rose 22.5 percent in July, the outlier was caused by record orders reported by aircraft manufacturing giant Boeing Co. (NYSE:BA) in July.

However, recent data from Boeing showed it had orders for 122 aircraft in September and 107 in August, down from 324 in July.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

No comments

leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

People's Pundit Daily
You have %%pigeonMeterAvailable%% free %%pigeonCopyPage%% remaining this month. Get unlimited access and support reader-funded, independent data journalism.

Start a 14-day free trial now. Pay later!

Start Trial