U.S. Durable Goods Orders Fall 18.2% in August
Source: The Wall Street Journal.
Aircraft Purchases Down from July Record High, Orders Up Outside Transportation Category
By Ben Leubsdorf and Jonathan House
Sept. 25, 2014 8:31 a.m. ET
WASHINGTON—Orders for long-lasting manufactured goods tumbled last month as aircraft purchases pulled back from a July record high, but orders ticked up outside of the volatile transportation category.
New orders for durable goods—products like refrigerators and cars that are designed to last at least three years—fell 18.2% in August from the prior month to a seasonally adjusted $245.43 billion, the Commerce Department said Thursday. Economists surveyed by The Wall Street Journal had expected durable-goods orders would fall 17.5% from July.
Orders had climbed 22.5% in July, revised down slightly from an initially reported 22.6% gain, thanks to a huge surge in aircraft orders.
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Thursday's report offered a hopeful sign for U.S. business spending. New orders for nondefense capital goods excluding aircraft, which are considered a leading indicator for business investment, rose 0.6% in August.
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Write to Ben Leubsdorf at [email protected] and Jonathan House at [email protected]
Read more: http://online.wsj.com/articles/u-s-durable-goods-orders-fell-18-2-in-august-1411648278
Hat tip, Morningstar: U.S. Durable-Goods Orders Sink Record 18.2% in August on Fewer Jet Contracts
Stocks are way off.
= new reply since forum marked as read
I bought a new car in 2002 and I am still driving said car and have no ability nor desire to replace it.
I have a refrigerator I bought new in 2001 and it still works just fine and it has lasted a lot longer than a mere three years.
Who writes this stuff anyway?
Why don't they just use the "r" as = to recession dare I ask?
