US durable goods orders rebound to growth in August

By Mucahithan Avcioglu

ISTANBUL (AA) - US new durable goods orders rose 2.9% in August from the previous month, rebounding from previous declines, according to data released Thursday by the Census Bureau.

New orders for manufactured durable goods, which measure the change in the value of new purchase orders placed with manufacturers, climbed $8.9 billion to $312.1 billion.

This marked the first monthly rise in new orders in three months.

The figure followed an upwardly revised 2.7% drop in July, and defied the market forecast of a 0.3% fall for August.

"Transportation equipment, also up following two consecutive monthly decreases, led the increase, $8.1 billion or 7.9% to $110.2 billion," the bureau said in a statement.

Orders also significantly increased for defense aircraft and parts (50.1%) and nondefense aircraft and parts (21.6%) in August.

Excluding defense orders, new orders climbed 1.9% month-on-month in August. And excluding transportation, new orders rose 0.4% on a monthly basis.