U.S. Core Durable Goods Orders Rise 11.1 Percent

U.S. core durable goods orders rose for the 17th consecutive month in August, marking an 11.1 percent increase year-over-year. This represents the highest level of growth since the second quarter of 2022.

While headline orders remained unchanged month-over-month, non-defense capital goods orders excluding aircraft surged 1.6 percent. This growth more than doubled the expected 0.56 percent increase and was primarily driven by spending on artificial intelligence infrastructure, specifically within telephone apparatus and network, broadcast, and wireless equipment.

Boeing Defense, Space & Security reported a decline in orders compared to July, though this was offset by the broader surge in tech-related capital goods. Shipments figures remained in line with expectations, suggesting resilience for third-quarter GDP forecasts.