US durable goods orders contract in August

FXStreet (Mumbai) - The corporate spending in the US dropped at a slower than expected rate in August, the official data released today showed.

The headline durable goods orders contracted 2% in August, compared to the 2.2% decline expected. This is the seventh straight month of annualised decline in the durable goods orders.

Orders for core capital goods - a proxy for business investment - slipped 0.2%. Shipments of core capital goods, a category used to help determine quarterly economic growth, also fell 0.2% in August. Meanwhile, orders minus transportation were flat.

The headline figure dropped mainly on account of lower bookings for autos and airplanes.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.