New orders for manufactured durable goods increased for a fourth consecutive month in August, but growth was smaller compared to July, according to data released Friday by the U.S. Census Bureau.
New durable goods orders were up 0.4% to $232.8 billion last month, falling short of expectations and following July’s 11.7% jump. Shipments of durable goods decreased in August by 0.3% after three months in a row of growth, according to the Census Bureau, and new orders of nondefense capital goods grew 7.8% to $62.9 billion.
The data shows that core capital goods orders are now above their pre-pandemic level, though the next few months are very unlikely to see a repeat of the recent big gains.
