Durable-goods orders retreat due to Boeing. Manufacturing slump goes on.
Last edited Sat Oct 26, 2024, 12:44 AM - Edit history (1)
Source: MarketWatch
Economic Report
Durable-goods orders retreat due to Boeing. Manufacturing slump goes on.
Business investment perks up in positive sign
By Jeffry Bartash
Last Updated: Oct. 25, 2024 at 9:54 a.m. ET
First Published: Oct. 25, 2024 at 8:39 a.m. ET
The numbers: Orders at U.S. factories fell almost 1% in September — mostly due to fewer Boeing aircraft bookings — and offered little evidence of a recovery in a slump-ridden manufacturing industry.
Durable-goods orders dropped 0.8% last month for the second straight month, the government said Friday. Economists polled by the Wall Street Journal had forecast a 1.0% decline. … If autos and aircraft are stripped out, new orders minus transportation rose a mild 0.4%, the government said.
In a bit of good news another measure seen as a substitute for business investment rose 0.5% and increased for the second month in a row. … These so-called core orders are viewed by investors as a signal of future business prospects.
Manufacturing is a much smaller part of the economy than it used to be, but it still exerts sizable influence. Executives are more optimistic about an increase in growth next year as high interest rates come down.
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Read more: https://www.marketwatch.com/story/durable-goods-orders-retreat-manufacturing-slump-goes-on-8606eba0
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