US durable goods orders were unchanged in August

Boeing factory plane

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 …

NOW WATCH: STIGLITZ: It makes me crazy that everyone gets this wrong about the economy