Aircraft lift US durable goods orders in September

Washington (AFP) - US durable goods orders surged 3.7 percent in September from the prior month, led by a jump in aircraft orders, the Commerce Department reported Friday.

New orders for durable goods totaled $233.4 billion last month, up from $225.2 billion in August.

The increase was the fifth in the past six months and followed a 0.2 percent rise in August. Year-over-year, new durable goods orders were up 4.6 percent.

Orders for transportation equipment rose 12.3 percent to $77.0 billion in September, led by a 57.5 percent rise in commercial aircraft and parts to $11.4 billion.

Defense aircraft orders rose 15.2 percent.

Orders for automobiles and auto equipment fell 0.3 percent, the first drop in three months.

Excluding transportation equipment orders, which can vary widely month-over-month, durable goods orders fell 0.1 percent in September, the third month in a row of decline.

"The picture ex-transportation is disappointing. Core capital goods orders fell 1.1 percent; the trend is now flat, at best," said Ian Shepherdson of Pantheon Macroeconomics.

"Clearly, capex (capital expenditure) is not going to be a big near-term driver of growth."