Economy
September 29, 2013
August Durable Goods Analysis
Written by Peter Wright
New orders for manufactured durable goods in August were almost unchanged from July. In hindsight the results for May and June were outliers on the high side driven by orders for civil aircraft. The three month moving average in August had negative growth of 1.5 percent compared to the three months through July. A better measure is the year over year growth rate of the three month moving average and by this measure growth in three months through August was 7.0 percent continuing a string of 44 consecutive monthly increases, (Fig 1).
