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US durable goods orders dropped more than expected in September

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US durable goods orders dropped more than expected in September

Seasonally adjusted new orders for U.S. manufactured durable goods declined more than expected in September following three consecutive monthly expansions, advance data from the U.S. Census Bureau showed.

Durable goods orders fell 1.1% to $248.16 billion in September from $251.00 billion in August. The consensus estimate of economists polled by Econoday was for a 0.7% monthly decline.

Excluding defense, new orders fell 1.2% month over month in September. Excluding transportation, new orders dropped 0.3%.

Shipments of manufactured durable goods went down 0.4% to $252.52 billion in September, following a 0.1% decrease in the previous month.

Unfilled orders were unchanged at $1.164 trillion in September, following two consecutive monthly increases.