Aircraft Help Boost New Factory Orders 1.7%
After delays from the government shutdown, the Commerce Department issued a dual August/September factory orders report (link opens as pdf) today. While new orders for manufactured goods fell 0.1% in August, September saw a 1.7% increase to hit $490.8 billion.
Analysts had expected a 0.3% increase for August, followed by 1.7% growth in September. The September gain was driven by a 57.7% jump in demand for aircraft.
Source: Department of Commerce
While new factory orders have fluctuated in recent months, much of the movement originates from aircraft orders. New orders for nondefense aircraft and parts rose 5.4% from July to August and notched a 57.7% increase from August to September.
New orders for overall durable goods advanced 3.8% for September, compared to just 0.2% growth for manufactured nondurable goods.
September's shipments, unfilled orders, and inventories all advanced to their highest levels since data was first collected in 1992. Shipments increased 0.4% to $232 billion, unfilled orders added on 0.9% to $1,042 billion, and inventories expanded 0.8% to $382 billion.
-- Material from The Associated Press was used in this report.
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