Durable Goods Stronger Than Expected

Durable goods orders rose more than expected in August, picking up a gain of 1.7 percent versus a forecast for 1.0 percent, the U.S. Census Bureau announced today. The increase was welcomed after a 5.8 percent decline in July. A 45 percent jump in the volatile category of nondefense aircraft orders led the increase.

Core capital goods, which exclude defense and aircraft, rose 0.9 percent and shipments of core capital goods increased 0.7 percent. Together, they indicate growing business confidence and bode well for future investment.