Dollar Steady Ahead Of Durable Goods Orders

Lloyd Doyle
September 27, 2017

New orders for United States manufactured durable goods jumped by more than anticipated in the month of August, according to a report released by the Commerce Department on Wednesday.

The Commerce Department also said orders for non-defense capital goods excluding aircraft, an indicator of business spending, rose by 0.9% in August after climbing by 1.1% in July.

Unfilled orders for manufactured durable goods in August, up two of the last three months, increased $0.1 billion or virtually unchanged to $1,132.3 billion. So far this year, orders are up 5% over the same period of 2016. Analysts believe activity in the current July-September quarter will likely slow a bit, in part because of the devastation caused by hurricanes Harvey and Irma. But excluding the transportation sector, which sees big swings from month to month, August orders were up only 0.2% from the prior month, the second straight monthly increase.

Demand for machinery rose 0.3 percent while orders for computers and related products fell 2.3 percent.

Motor vehicle orders, which have sagged during much of 2017, rose 1.5%.

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