Durable-goods orders rise modestly

Orders for durable goods rose 0.4% in August, the fourth straight gain but a more modest increase after three straight strong gains, the government said Friday.

Economists had forecast a 1.5% increase in orders for durable goods in August. Orders were raised to 11.7% in July and 7.7% in June.

Machinery orders led the gain in August, rising 1.5%.

Stripping out planes and cars, orders also rose 0.4% in August. Transportation often exaggerates the ups and downs in orders because of lumpy demand from one month to the next.

Orders for motor vehicles and parts fell 4% in August after a 21.7% gain in the prior month.
Orders excluding defense goods rose 0.7% after a 10.4% gain in July.

Core capital goods rose 1.8% in August after a 2.5% rise in the prior month. This category has now risen above pre-COVID trend. Shipments of this crucial sector rose 1.5%.