Durable Goods Orders Remain Unchanged in August Durable Goods Orders in the United States showed no change in August, coming in at 0.0%, according to data released by the US Census Bureau. This was a positive surprise compared to the expected decline. The new orders for manufactured durable goods held steady at $289.7 billion, following a robust 9.9% increase in July. When excluding transportation, new orders saw a slight increase of 0.5%. On the other hand, excluding defense, new orders fell by 0.2%. The primary driver of growth came from electrical equipment, appliances, and components, which increased by 1.9% to $14.4 billion.
US GDP Growth Confirmed at 3% for Q2 In a separate report, the US Bureau of Economic Analysis (BEA) confirmed that the Real Gross Domestic Product (GDP) expanded at an annual rate of 3.0% in the second quarter of 2024. This matches the previous estimate and reflects the continued resilience of the US economy. The steady growth in GDP was primarily attributed to increases in consumer spending and business investment.
Market Reaction The US Dollar Index (DXY) gained momentum following these positive data releases, hovering around the 100.80 level. The stability in durable goods orders, coupled with the solid GDP growth confirmation, has bolstered market sentiment ahead of the American trading session.
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