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Monday, July 15, 2024
HomeNewsEconomyGM Auto Strike Takes Toll on Durable Goods Orders for September

GM Auto Strike Takes Toll on Durable Goods Orders for September

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)

Durable Goods Orders Revised Higher to $251 Billion for August

New manufactured durable goods orders fell $2.8 billion or 1.1% to $248.2 in September, a largely expected decline partially the result of the strike. However, the decrease for September follows three consecutive increases.

Forecasts ranged from a low of -3.3% to a high of 2.0%. The consensus forecast was -0.7%.

Excluding transportation, new orders decreased 0.3%. Excluding defense, new orders fell 1.2%. Transportation equipment, also down after three consecutive monthly increases, led the decline falling $2.3 billion or 2.7% to $84.5 billion.

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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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