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.
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