Durable goods orders surge in August, July number revised to gain

• August Durable Goods: +1.8% vs. +0.6% expected and +0.5% prior (revised from -0.1%).
• July's revision from a decline to an increase, brings the headline number to the 15th increase in the last 16 months.
• Excluding transportation new orders: +0.2% vs. +0.4% expected and +0.7% prior.
• Excluding defense, new orders increased 2.4%.
• Transportation equipment, up three of the last four months, led the increase, rising 5.5% to $80.8B.
• Supply chain issues are likely reflected in the shipments of goods.
• Shipments of manufactured durable goods in August, fell 0.5% to $256.1B, following a 2.0% July increase. Transportation equipment, down after two straight months of increases, drove the decline, falling 2.7%.
• Unfilled orders for manufactured durable goods rose 1.0% to $1.24T in August, following a 0.5% increase in July. Transportation equipment, up six of the last seven months, led the increase, up 0.7% to $820.8B.
• Nondefense new orders for capital goods in August jumped 9.0% to $89.9B; shipments rose 0.3% to $79.4B; unfilled orders rose 1.4% to $754.9B.