Orders for durable goods in the US recorded the biggest increase in five months in September, and orders for aircraft and other corporate equipment strengthened, further showing the growth momentum of the manufacturing industry. According to data released by the US Department of Commerce on Tuesday, orders for durable goods with a lifespan of at least three years increased by 1.8%, and the previous month's data was revised up to 0.1%. Orders for core capital goods increased 0.5% in September. The durable goods report showed a 28.4% increase in commercial aircraft orders. Boeing reported a higher number of orders in September than the previous month. Orders for computers, machinery, and cars have also increased. Driven by AI-related spending, corporate investment performance was strong this year. According to the durable goods report, this trend continued until September, which means that the preliminary GDP for the third quarter announced on Thursday may indicate strong capital expenditure performance. “The September durable goods report shows that corporate investment is resilient,” BMO Capital Markets senior economist Priscilla Thiagamoorthy said in the report. “Aircraft orders drive up overall data, but basic demand continues to expand, while stronger capital goods shipments indicate that equipment spending supported economic growth at the end of the third quarter and maintained strong momentum as we entered the fourth quarter.”

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.