US durable goods orders jump past forecasts in September

Durable goods orders in the US kept coming in thick and fast last month, albeit in part due to a jump in those for civilian aircraft.

Orders for goods made to last more than three years increased by 2.2% month-on-month in September to reach $238.7bn, according to the Department of Commerce.

Economists had projected a rise of 1.3%.

The pace of orders excluding transportation also exceeded forecasts, advancing by 0.7% on the month (consensus: 0.4%), alongside a 1.7% rise in those for fabricated metal products and an increase of 1.6% in those for computers and electronic products.

Orders for non-defence aircraft and parts meanwhile saw another strong month of gains, leaping by 31.5% on the month to $12.8bn.

More generally, orders for transportation equipment were up by 5.1% to $81.3bn.

Capital goods orders excluding defense and aircraft, a key barometre of investment demand, rose by 1.3% to approximately $66.0bn.

In comparison to a year ago, total capital goods orders climbed 5.2%.