US durable goods orders fall slightly short of forecasts in August

Durable goods orders in the US came in slightly below forecasts last month, even as those for core capital goods strengthened.

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According to the Department of Commerce, in seasonally adjusted terms, orders for goods made to last more than three years increased at a month-on-month pace 0.4% to reach $232.84bn.

That was less than the 1.0% increased that economists had penciled-in.

Excluding the transportation sector, orders were also 0.4% higher versus July (consensus: 1.0%).

Orders for capital goods excluding defence and aircraft on the other hand jumped by 1.8% month-on-month, beating a Barclays forecast for an increase of 0.5%.

So-called core orders for capital goods are considered a lead indicator for trends in business investment.