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Durable goods plunge in record fashion

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Durable goods plunge in record fashion

Transportation orders lead the drop; business spending brightens outlook.

New orders for manufactured durable goods in August decreased $54.5 billion or 18.2% to $245.4 billion, the U.S. Census Bureau announced today. This decrease, down following two consecutive monthly increases, followed a 22.5% July increase, and was the largest such monthly decline on record.

Transportation equipment, also down following two consecutive monthly increases, drove the decrease, $55.6 billion or 42.0% to $76.8 billion.

"On a more positive forward-looking note, unfilled orders continued to rise."  

Excluding transportation, new orders increased 0.7%. Excluding defense, new orders decreased 19.0%.

Shipments of manufactured durable goods in August, down following two consecutive monthly increases, decreased $3.7 billion or 1.5% to $246.1 billion. This followed a 3.7% July increase.

Transportation equipment, also down following two consecutive monthly increases, drove the decrease, $3.9 billion or 5.1% to $72.5 billion.

On a more positive forward-looking note, unfilled orders continued to rise.  Unfilled orders for manufactured durable goods in August, up sixteen of the last seventeen months, increased $7.4 billion or 0.6%to $1,165.0 billion - the highest level on record, and followed a 5.3% July increase.

Transportation equipment, up eleven of the last twelve months, led the increase, $4.3 billion or 0.6% to $742.1 billion.

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