US durable goods orders drop in September due to drag from civilian aircraft

Orders for goods made to last three years or more fell as expected last month, due to the drag from a sharp drop in those for aircraft.

According to the Department of Commerce, in seasonally adjusted terms durable goods orders shrank by 0.8% month-on-month to reach roughly $284.8bn.

Economists had pencilled in a drop of 0.9% versus August.

However, the previous month's reading had been revised down to reveal another 0.8% decline versus a preliminary reading of flat.

A 23.7% on the month drop in non-defence aircraft and parts, to reach $14.7bn, accounted for nearly all of September's drop in total durable goods orders.