–Nondefense Aircraft Orders Down 40.2%; Total Transportation Down 10.3%
–Durables Orders Ex Defense Capital Goods, Civilian Air +0.4%; MNI Calc
By Kevin Kastner
WASHINGTON (MNI) – Durable goods orders fell 1.3% in August, a
larger drop than the 1.0% decline expected due to sharper decline in
transportation orders than anticipated, data released Friday morning by
the Commerce Department showed.
However, the 10.3% decline in transportation orders, led by a 40.2%
drop in nondefense aircraft and parts orders, masks what was a solid
report for other categories.
Durable goods orders excluding transportation rose 2.0%, with gains
in primary metals, fabricated metals, machinery, computers and
electronics products, and electrical equipments.
A Market News International calculation shows that durables orders
excluding defense capital goods and civilian aircraft rose 0.4%, while
orders excluding defense capital goods and nondefense aircraft and parts
was up 0.7%.
In addition to the sharp decline in nondefense aircraft, orders for
motor vehicles and parts and defense aircraft and parts also declined.
Durable goods orders excluding defense fell 1.2% in August, as
defense capital goods orders fell 1.5%. Nondefense capital goods orders
were down 0.9% in the month, but were up 4.1% when the 54.5% drop in
civilian aircraft orders were excluded.
Durable goods shipments fell 1.5% in August, but were flat
excluding a 5.9% drop in transportation. Nondefense capital goods
shipments were down 0.3%, but were up 1.6% excluding aircraft.
Durable goods inventories rose 0.4%, while unfilled orders were
down 0.1%
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDS$,MT$$$$,M$U$$$,MAUDR$]
