US durable orders fall for second straight month in Sept
by ChemOrbis Editorial Team - content@chemorbis.com
According to a report released by the US Commerce Department, durable goods orders declined for the second consecutive month in September. Orders for durable goods fell 1.2% on the month in September following a revised decrease of 3% in August. Economists’ initial estimates called for a drop of 1%.
The decrease was attributed to ongoing weakness in orders for transportation equipment, which fell 2.9% in September after slipping by 6.9% in the previous month. Orders for non-defense aircraft and parts slumped 35.7% following a decrease of 11.2% in August while orders for non-defense capital goods declined 0.3% in September from August’s decrease of 1.6%.
Economists commented that a strong dollar, weak commodity prices and the slowing global economy are weighing down US manufacturing activities.
The decrease was attributed to ongoing weakness in orders for transportation equipment, which fell 2.9% in September after slipping by 6.9% in the previous month. Orders for non-defense aircraft and parts slumped 35.7% following a decrease of 11.2% in August while orders for non-defense capital goods declined 0.3% in September from August’s decrease of 1.6%.
Economists commented that a strong dollar, weak commodity prices and the slowing global economy are weighing down US manufacturing activities.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Upstream keeps China PET afloat; prices hit 11-month high
- Import PVC uptrend loses momentum in Asia; is the 9-month rally coming to an end?
- Tightness brings further price hikes in African PP, PE markets
- European PP hits new highs after 3-digit hikes for January
- Turkey’s PP, PE markets open 2021 with supply-driven hikes
- Vietnam’s local homo-PP market retreats for 3rd week on subdued demand
- China’s PE demand wavers amid controls on environmental pollution and electricity use
- January trend takes shape in Egypt’s PP, PE markets
- Stats: Turkey’s 2020 polymer imports set to beat the 2017 record
- China PP, PE markets close 2020 on a soft note; SE Asia feels pressure
