US durable goods orders slip less than expected in August

By Tuba Sahin

ANKARA (AA) – US durable goods orders declined less than market forecast in August, down 0.2% from a month ago, according to official figures released on Tuesday.

New orders for manufactured durable goods dropped for the second consecutive month, down by $0.6 billion in August to $272.7 billion, the US Commerce Department’s Census Bureau said in a report.

The market expectation for August was a decline of 0.4%, following July’s revised 0.1% decrease.

Transportation equipment, which was down for a second straight month, led the fall with a $1 billion, or 1.1%, decline to $92 billion.

“Excluding transportation, new orders increased 0.3%. Excluding defense, new orders increased 0.4%,” said the report.