Transportation and Infrastructure

New orders for manufactured goods increased in August after declining in July, according to U.S. Census Bureau data.

Factory orders: New orders rose 1.2% in August following a 2.1% decrease the previous month.

• Factory orders for durable and nondurable goods increased 0.1% and 2.1%, respectively, but declines in nondefense aircraft and components pulled down durable goods demand.
• Excluding transportation equipment, new factory orders jumped 1.4%, rising for the third month in a row.

Core capital goods: New orders for core capital goods—or nondefense capital goods excluding aircraft, a proxy for capital spending in the U.S. economy—increased 0.9% to a record high of $73.95 billion in August.

Factory shipments: Factory shipments rose 1.3% in August, marking the fourth consecutive monthly increase.

• Total factory shipments have risen 0.5% over the past year, dipping 0.9% year over year when transportation equipment is excluded.
• Factory shipments excluding transportation equipment have increased 1.0% year to date.

Shipments of core capital goods: Shipments of core capital goods rose 0.7% in August, to an all-time high of $74.38 billion, reflecting 2.6% growth over the past 12 months.