US durable goods orders drop in September due to drag from civilian aircraft

25th Oct 2024 15:45

(Sharecast News) - Orders for goods made to last three years or more fell as expected last month, due to the drag from a sharp drop in those for aircraft.

According to the Department of Commerce, in seasonally adjusted terms durable goods orders shrank by 0.8% month-on-month to reach roughly $284.8bn.

Economists had pencilled in a drop of 0.9% versus August.

However, the previous month's reading had been revised down to reveal another 0.8% decline versus a preliminary reading of flat.

A 23.7% on the month drop in non-defence aircraft and parts, to reach $14.7bn, accounted for nearly all of September's drop in total durable goods orders.