US: Durable goods orders fell further in October

However, auto sales, which have suffered for months from a global semiconductor shortage slowing production, rebounded in October and new orders rebounded 4.8%. (Photo: 123RF)

Washington — Durable goods orders fell again in October in the United States, for the second month in a row, dragged down by a drop in aircraft orders, while cars recovered.

Orders totaled $260.1 billion, down 0.5% from September, according to data released by the Commerce Department on Wednesday.

This number disappointed analysts who had expected a 0.2% rebound.

Excluding transportation, new orders rose 0.5%, and excluding defense, the increase was 0.8%.

“Transportation equipment, in decline over three of the past four months, has led to a decline” in all durable goods orders, the Commerce Department said in the press release.

However, auto sales, which have suffered for months from a global semiconductor shortage slowing production, rebounded in October and new orders rebounded 4.8%.

After rising for four straight months, durable goods orders fell 0.4% in September, which was already punished by the aviation sector, but also autos.

Production in the United States continues to suffer from supply problems, which leads to high costs, but also staffing difficulties.

Goods that are considered durable are those that are used for three years or more such as cars, home appliances or electronics.

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