Ex-Defense -12.4%;Nondef Aircrft Orders -101.8% On Drop In Boeing Orders
By Ian McKendry
WASHINGTON (MNI) – August durable goods plummeted as sales of
aircraft orders fell and auto sales were weaker indicating that the
manufacturing sector is struggling to gain the needed momentum for a
stronger economic recovery.
A combination of a sharp decline in orders reported by Boeing Corp.
and an exagerrated auto sales rate in August led us to anticipate the
end of three straight monthly increases in durable goods orders.
However, the 13.2% decline in August durable goods was more than
the 4.5% decline a survey of forecasts compiled by MNI anticipated.
Excluding transportation sales fell 1.6% after increasing in July and
falling in June. Excluding defense capital goods sales fell 24.3%
New orders of aircrafts at Boeing Corp. fell to just one in August
after receiving 260 in July and Auto sales rose 4.6% after being mostly
flat over the past few months.
Other orders components were weaker as well: primary metals orders
-1.7%, machinery -4.7%, computers & related electronics -3.4%
and communications equipment -7.1%. However, electical equipment
+3.8% showed the lone increase in the report.
Total shipments fell 1.7% and inventories rose 0.6%, These suggest
production has not really ramped back up.
** MNI Washington Bureau: 202-371-2121 **
[TOPICS: MAUDS$,MT$$$$,M$U$$$,MAUDR$]