US durable goods orders were unchanged in August

Durable goods orders were flat in August, according to the Commerce Department.

Economists had forecast that orders for things designed to last for a long time fell 1.5% during the month, according to Bloomberg.

Capital-goods orders for non-defence items excluding aircraft, or so-called core durable goods, increased by 0.6% (estimated to drop 0.1%). Shipments in this category fell 0.4% (0.1% forecast).

Orders excluding the volatile transportation category fell 0.4% (-0.5% expected).

After a strong July, with durable goods orders rising by a downward revised 3.6%, there was some expected pullback.

Additionally, recent data from Boeing showed that its orders trended downwards in the last few months. August is not seasonally a big month for aircraft orders, and commercial aircraft orders plunged 22%.

Orders for appliances and computers were also weak.

More to come …

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