Durable Goods Orders Drop on Lower Aircraft Orders
Durable goods orders fell by 18.2% in August, as commercial airline orders plunged, the Commerce Department reported Sept. 25.
Excluding transportation equipment, orders for items meant to last at least three years rose 0.7%, following a 0.5% decrease in July.
Durable orders were projected to rise 0.6%, according to median estimate in a Bloomberg survey of economists.
Orders were depressed by a 74.3% plunge in bookings for civilian aircraft, after tripling in July. Boeing Co. received 107 orders in August, following 324 in July.
Bookings for non-military capital goods excluding aircraft rose 0.6% followed a 0.2% decrease in July that was smaller than previously estimated.
Shipments of non-defense capital goods, used in calculating gross domestic product, advanced 0.1% after rising 1.9% in July, more than previously estimated.
