Widget Image
Follow PPD Social Media
Follow Us:
Tuesday, October 20, 2020
HomeNewsEconomyDurable Goods Orders Gain in August, Revised Even Higher for July

Durable Goods Orders Gain in August, Revised Even Higher for July

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)
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)
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 rose $1.0 billion or 0.4% to $232.8 billion in August. That less than expected gain comes after three straight months of strong data beating the consensus forecast and the prior month of July being revised higher.

Forecasts for new orders ranged from a low of 0.7% to a high of 11.4%. The consensus forecast was 1.5%. New orders for durable goods were revised higher for July, from 11.2% to 11.7% at $231.8 billion.

Excluding transportation, new orders increased 0.4%. Forecasts ranged from a low of 0.2% to a high of 2.2%. The consensus forecast was 1.2%.

Excluding defense, new orders increased 0.7%. Machinery, which now is also up four consecutive months, led the gain, $0.5 billion or 1.5% to $31.2 billion.

The core capital goods came in at 1.8%. Forecasts ranged from a low of 0.4% to a high of 1.9%. The consensus forecast was 1.7%.

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