US durable goods orders rise slightly in September

(Sharecast News) - Orders for durable goods rose slightly last month, alongside a sharp rise in those for so-called core capital goods, which are considered a good lead indicator for business investment. According to the U.S. Department of Commerce, in seasonally adjusted terms, durable goods orders edged up by 0.2% month-on-month to reach $284.7bn.

Economists had penciled in a drop of 0.5%.

Orders excluding transportation meanwhile were up by 0.4%.

Those for electrical equipment and appliances increased by 1.1% and those for fabricated metal products and machinery both by 0.5%.

Motor vehicles and parts orders were ahead by 0.3%.

Core capital goods orders, which are those for goods meant to last more than three years and excluding defense and aircraft, jumped by 0.9% in comparison to the previous month.

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