According to recently released Commerce Department data, orders for big-ticket U.S.-manufactured goods slipped in August, the second consecutive monthly decline. The government reports indicates that the orders were affected by the volatile military and civilian aircraft categories, which moved in opposite directions.
A huge double-digit drop in non-defense aircraft pushed the total down, while a massive 31.2 per cent jump in military aircraft pushed the other way, the data showed. But excluding defense aircraft, total new orders fell 0.9 percent.
Durable goods orders fell 0.2 percent to $272.7 billion in August, after a 0.1 percent decline in July, the Commerce Department reported. The result was far better than analysts had expected.
Rising U.S. inflation and supply chain issues have challenged industries and consumers, causing a pullback in spending and investment.
But the report showed resilient demand, with rising orders for vehicles, computers, and electrical equipment and appliances, which posted a 1.0 percent increase, according to the report.
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