September orders for big-ticket manufactured goods up 1.9%
Orders to U.S. factories for big-ticket manufactured goods rose a better-than-expected 1.9% in September with a key category that tracks business investment showing a solid gain as well
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Orders to U.S. factories for big-ticket manufactured goods rose a better-than-expected 1.9% in September with a key category that tracks business investment showing a solid gain as well.
The rise in durable goods orders followed a smaller 0.4% increase in August and was the best gain since an 11.8% surge in July, the Commerce Department said Tuesday.
Orders for nondefense capital goods excluding aircraft, a key category that serves as a proxy for business investment spending rose 1% in September after bigger gains in July and August.
The pace of durable goods orders has slowed since an initial burst in demand as the country re-opened after the spring shutdown.
Analysts are worried that this slowdown could worsen in coming months as virus cases surge again and the boost from government stimulus fades following the failure of Congress to quickly renew support programs.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.