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%.
