New orders for durable goods rose $8.9 billion, or 2.9%, in August to $312.1 billion, according to a report released by the U.S. Census Bureau just moments ago. This figure beat market expectations of a 0.3% decline. Core orders, excluding transportation orders, rose 0.4% in July, compared to a 1.1% increase in July (expectations were -0.1%).
In detail, new orders excluding defense items rose 1.9%, up from 2.5%. Transportation equipment orders led the increase after two consecutive monthly declines, rising 7.9%, or $8.1 billion, to $110.2 billion.