In another sign that the U.S. economy is likely to post solid growth this year despite higher energy prices and hurricane-halted production, new orders for manufactured durable goods increased in August.
Total new orders for durables, generally big-ticket items such as autos, appliances and airplanes that are designed to last at least three years, were a seasonally adjusted $210.9 billion last month, 3.3% higher than July's $204 billion, the U.S. Commerce Department reported on September 28. In July new orders for durable goods posted a 5.3% decline.
The August increase in new orders was relatively broad-based, with primary metals; fabricated metal products; machinery; computers and related products; communications equipment; electrical equipment, appliances and components; non-defense aircraft and parts; and defense aircraft and parts posting orders gains of at least 3%.
