U.S. Core Durable Goods Orders Extend 17-Month Growth Streak
Orders excluding transportation equipment rose 0.3% from July, while nondefense capital goods orders excluding aircraft increased 1.6%.
U.S. core durable goods orders extended their growth streak to 17 months in August, with AI spending appearing to be a major driver of communications and network equipment demand.
Orders excluding transportation equipment rose 0.3% from July, below the 0.6% increase expected. The July ex-transport figure was revised higher, while core orders increased 11.1% from a year earlier, marking their strongest annual gain since the second quarter of 2022.
Nondefense capital goods orders excluding aircraft climbed 1.6% from July, more than twice the 0.56% increase expected. The category includes telephone and broadcast equipment, cellular tower electronics, routers, switches and fiber-optic transmission gear.
The broader durable goods figure was unchanged from July, exceeding expectations for a 0.3% decline. Boeing recorded fewer orders in August than in the previous month.
Shipments, which feed into gross domestic product calculations, matched expectations. July shipments were revised higher.
