New orders for durable goods decreased 0.4% in September, down to $261.3 billion from a record $262.3 billion in August, according to the U.S. Census Bureau.
- Orders of nondefense-related aircraft and parts dipped 27.9% in September after increasing 63.9% in August.
- Sales of motor vehicles and parts decreased 2.9% for September, owing to the chip shortage and continued supply-chain backlogs.
- Orders of electrical equipment and appliances went down 0.5%, and computers and electronic products decreased 0.3%. Both sectors have also struggled with the chip shortage.
What’s gone up: Demand for some goods increased, however. Machinery (up 1.1%), fabricated metal products (up 0.7%), primary metals (up 0.6%) and other durable goods (up 0.3%) all experienced gains in the latest data.
- Durable goods shipments increased 0.4% in September, bouncing back from the decrease in August.
The NAM says: “Despite some weaknesses in the transportation equipment sector, the durable goods data continue to reflect a strong upward trend overall, even as manufacturers struggle with supply chain bottlenecks, worker shortages and soaring costs,” NAM Chief Economist Chad Moutray said. “Even with sizable challenges, manufacturers remain upbeat in their assessments of the coming months, and these data are consistent with that.”