US durable goods orders drop in September due to drag from civilian aircraft
By Alexander Bueso
Date: Friday 25 Oct 2024
(Sharecast News) - Orders for goods made to last three years or more fell as expected last month, due to the drag from a sharp drop in those for aircraft.
According to the Department of Commerce, in seasonally adjusted terms durable goods orders shrank by 0.8% month-on-month to reach roughly $284.8bn.
Economists had pencilled in a drop of 0.9% versus August.
However, the previous month's reading had been revised down to reveal another 0.8% decline versus a preliminary reading of flat.
A 23.7% on the month drop in non-defence aircraft and parts, to reach $14.7bn, accounted for nearly all of September's drop in total durable goods orders.
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