US durable goods orders rise in September

According to the data from the US Commerce Department, durable goods orders in the US surged by 2.2% on a monthly basis after a revised increase of 1.7% in August, defying the economists’ expectations for an increase of 1.0%.

The increase in durable goods orders in September was driven by transportation orders which rose 5.1% following a slight increase of 0.2% in the previous month. Orders for non-defense aircraft and parts also rose by 1.3% in September.

Excluding orders for transportation, durable goods orders were up slightly by 0.7%, ahead of estimations calling for a 0.5% rise.

The data showed that non-defense capital goods also rose by 1.3% in September from an increase of 0.9% in the previous month.