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USA: durable goods orders exceed expectations

Thanks to transport and civil aeronautics, they climbed in August by 1.8% while analysts had forecast + 0.6%.

Durable goods orders rose far more than expected in August in the United States, largely driven by the transportation and civil aviation sector, according to data released Monday by the Commerce Department.

Orders rose 1.8% to $ 263.5 billion. This is much more than the 0.6% expected by analysts. And this increase is all the stronger since the data for July have been revised upwards with an increase of 0.5% instead of a decrease of 0.1%.

Excluding transport, new orders rose by only 0.2%, below analysts’ forecasts which were + 0.6%.

And if we exclude the defense sector, new orders increase by 2.4%, said the ministry in a press release.

Goods considered durable are those used for three years or more such as cars, household appliances or electronics.

In detail, the civil aeronautics, capital goods and transport equipment sectors recorded the largest increases, respectively by 77.9%, 6.7% and 5.5% k

The automotive sector (engines and parts), whose production has been slowing down for several months due to the global shortage of semiconductors, on the other hand recorded a drop in orders of 3.1%.

The defense aeronautics sector fell even more sharply (-17.8%).

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