Transportation Equipment Spurs 1.8%% Gain in Durable Goods
9/27 8:30 AM
Transportation Equipment Spurs 1.8% Gain in Durable Goods WASHINGTON, D.C. (DTN) -- Following an upwardly revised 0.5% increase in the previous month, U.S. durable goods orders advanced 1.8% in August, led by an increase in new orders for transportation equipment and aircrafts, up for the third consecutive month, according to data published this morning by the U.S. Census Bureau. The fresh reading came well above expectations for a 0.6% increase. Further details of the report show unfilled orders for manufactured durable goods up a seven consecutive month in August, increasing $11.8 billion or 1% last month to $1,239.3 billion. The August advance followed a 0.5% July increase. Transportation equipment, up six of the last seven months, led the increase, gaining $7.3 billion or 0.9% to $820.8 billion. Inventories of manufactured durable goods in August, up seven consecutive months, increased $3.4 billion or 0.8% to $457.9 billion. Transportation equipment also drove this gain, up $1.3 billion or 0.8% to $153.4 billion in August for the seven consecutive monthly increase. Following the data's release, U.S. dollar index edged slightly higher to trade near 93.350 against a basket of foreign currencies, and the front-month West Texas Intermediate futures surged $1.45 to trade near $75.41 bbl. Liubov Georges, 1.646.359.4088, liubov.georges@dtn.com, http://www.dtn.com. (c) Copyright 2021 DTN, LLC. All rights reserved.