The US Census Bureau’s September advance report highlights a slight downturn in the durable goods manufacturing sector.
New orders for manufactured durable goods declined by $2.2 billion, or 0.8%, to a total of $284.8 billion in September. This marks the third decrease in the past four months, following a similar 0.8% drop in August.
However, transportation is excluded, new orders actually rose by 0.4%. In contrast, excluding defense showed a 1.1% decrease. The primary driver behind September’s decline was a reduction in transportation equipment orders, which fell by $3.1 billion, or 3.1%, to $95.4 billion, continuing a trend seen in three of the last four months.
Data Source: US Census Bureau
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