Investing.com - U.S. durable goods orders plunged in August, while core orders fell unexpectedly, official data showed on Thursday.
In a report, the U.S. Census Bureau said that total durable goods orders, which include transportation items, sank by a seasonally adjusted 13.2% in August, compared to expectations for a 5.0% decline, after climbing at a revised rate of 3.3% in July.
Durable goods are typically bulky or heavy products designed to last at three years, such as trains, computers or furniture.
The report also showed that core durable goods orders, excluding volatile transportation items, fell by a seasonally adjusted 1.6% in August, defying expectations for a 0.3% gain.
The previous month’s figure was revised to a 1.3% drop from a previously reported decrease of 0.6%.
Non-defense capital goods orders excluding aircraft and transportation items, a closely watched proxy for future business investment, rose 1.1% last month, beating expectations for a 0.7% increase.
The previous month’s figure was revised to a 5.2% drop from a 3.4% decline.
Following the release of the data, the U.S. dollar was little changed against the euro, with EUR/USD trading flat at 1.2875.
Meanwhile, U.S. stock index futures held on to gains. The Dow Jones Industrial Average futures pointed to a rise of 0.35% at the open, S&P 500 futures indicated a gain of 0.4%, while the Nasdaq 100 futures signaled an increase of 0.3%.
In a report, the U.S. Census Bureau said that total durable goods orders, which include transportation items, sank by a seasonally adjusted 13.2% in August, compared to expectations for a 5.0% decline, after climbing at a revised rate of 3.3% in July.
Durable goods are typically bulky or heavy products designed to last at three years, such as trains, computers or furniture.
The report also showed that core durable goods orders, excluding volatile transportation items, fell by a seasonally adjusted 1.6% in August, defying expectations for a 0.3% gain.
The previous month’s figure was revised to a 1.3% drop from a previously reported decrease of 0.6%.
Non-defense capital goods orders excluding aircraft and transportation items, a closely watched proxy for future business investment, rose 1.1% last month, beating expectations for a 0.7% increase.
The previous month’s figure was revised to a 5.2% drop from a 3.4% decline.
Following the release of the data, the U.S. dollar was little changed against the euro, with EUR/USD trading flat at 1.2875.
Meanwhile, U.S. stock index futures held on to gains. The Dow Jones Industrial Average futures pointed to a rise of 0.35% at the open, S&P 500 futures indicated a gain of 0.4%, while the Nasdaq 100 futures signaled an increase of 0.3%.