U.S. demand for expensive goods climbed in September, boosted by higher car and airplane orders.
Orders for durable goods increased by 0.8% last month to a seasonally adjusted US$207.81 billion, the Commerce Department said today.
The overall 0.8% increase was a surprise. Wall Street expected a decline of 1.1% in overall durables for September.
Durables, which are goods designed to last at least three years, fell 5.5% in August, revised down from a previously estimated 4.8% decrease.
Many economists have said that the U.S. economy is already in a recession.
A key barometer of business equipment spending — orders for nondefense capital goods excluding aircraft — declined by 1.4%, after decreasing 2.2% in August.
U.S. durable-goods orders rise unexpectedly
- By: IE Staff
- October 29, 2008 October 29, 2008
- 10:35