New orders for durable goods in the United States dropped in September for the third time in four months, with a fall in aircraft sales pulling down the otherwise firm growth, government data showed Wednesday. New durable goods orders were down 0.8 percent from August to $200.3 billion, the Commerce Department said in its monthly report. Excluding the aeronautics-dominated transportation sector, new orders rose 1.7 percent in the month. Overall, durable goods orders were up 9.4 percent year-on-year in September, a healthy but not outstanding figure. Economists said it was a sign that the manufacturing economy continues to grow despite consumer and business sentiment surveys that suggest otherwise. Ian Shepherdson, chief US economist at High Frequency Economics, said it was "yet more evidence that the sharp drop in business confidence in recent months is sending a misleadingly weak signal about the pace of growth." "Companies did not like the debt ceiling mess, the downgrade and now the Euro-chaos, but they are cash-rich and competitive pressures are forcing them to spend," he said.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor