US manufactured goods orders fall for second straight month

ORDERS for big-ticket US-manufactured goods slipped in August, the second consecutive monthly decline, buffeted by the volatile military and civilian aircraft categories that moved in opposite directions, according to government data released on Tuesday (Sep 27).

Durable goods orders fell 0.2 per cent to US$272.7 billion last month, after a 0.1 per cent decline in July, the Commerce Department reported. The result was far better than analysts had expected.

A huge double-digit drop in non-defence aircraft pushed the total down, while a massive 31.2 per cent jump in military aircraft pushed the other way, the data showed.

Excluding defence aircraft, total new orders fell 0.9 per cent.

Soaring US inflation and supply chain snarls have challenged industry 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. AFP