U.S. durable-goods orders rise 1.8%, led by transportation
September orders reached $345.4 billion; orders excluding transportation increased 0.5%.
New orders for U.S. manufactured durable goods rose 1.8% in September to $345.4 billion, an increase of $6.3 billion. Orders excluding transportation rose 0.5%, while orders excluding defense increased 2.2%.
Transportation equipment led the increase, rising 4.6%, or $5.2 billion, to $119.8 billion. The headline gain was therefore much stronger than the increase outside transportation. August's total was revised to show a 0.1% increase.
The split matters when reading the report. The overall figure shows demand for long-lasting manufactured goods, but the smaller gain outside transportation gives a different sense of how broadly orders increased. A strong headline does not mean every part of manufacturing grew at the same pace.
The report arrives as the Federal Reserve begins its two-day policy meeting. Its rate decision is due Wednesday. Investors are weighing new economic readings alongside corporate results, including those covered in today's Toast & Tickers. Orders are one piece of that picture, rather than a direct reading of final consumer spending.
