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Friday, October 18, 2019
HomeNewsEconomyDurable Goods Orders Unexpectedly Rise in August, Beating Consensus Forecast

Durable Goods Orders Unexpectedly Rise in August, Beating Consensus Forecast

Manufacture of rails for trains and freight wagon, boxcars. Rail manufacturing plant. Stack of steel round bar - iron metal rail lines material for industry construction in warehouse. (Photo: AdobeStock)

The U.S. Census Bureau reported new orders for manufactured durable goods increased $0.5 billion or 0.2% to $250.7 billion in August, beating the consensus forecast. Durable goods orders are now up for three consecutive months after gaining 2.0% in July.

That’s an upward revision from 1.4% for July. In August, forecasts were looking for a low of -2.3% to a high of 1.0%. The consensus forecast was -1.2%.

New orders excluding transportation rose 0.5%, also beating the consensus forecast. Forecasts were looking for a low of -0.3% to a high of 0.6%. The consensus forecast was 0.2%.

New orders excluding defense fell 0.6%.

Fabricated metal products, which have been up four of the last five months, led the gain for August, rising $0.4 billion or 1.3% to $34.4 billion.

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.

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