New Orders in Durable Goods Contract 6.1% in September

New orders for real durable goods totaled $255,197 million in September, which was down 6.1% from one year ago.

New orders for real durable goods totaled $255,197 million in September, which was down 6.1% from one year ago. This was the third time in four months that new orders contracted more than 6.0%. Additionally, durable goods new orders contracted for the seventh time in eight months, and the rate of month-over-month contraction has generally accelerated. The result was that the annual rate of change contracted 2.0%, moving at a faster rate for the second-straight month. 

Compared with one year ago, new orders for motor vehicles and parts contracted 0.9%. This was the second consecutive month of month-over-month contraction. The annual rate of growth, now 3.9%, decelerated for the third month. This was the slowest rate of annual growth since August 2018

Aerospace orders contracted 49.2% in September, contracting more than 40% for the second month in a row. Aerospace orders contracted in nine out of the last 11 months, and they contracted more than 20% in seven out of the last eight months. The annual rate of contraction accelerated for the sixth month in a row, hitting 28.0% in September. Annually, non-defense orders continued to contract at an accelerating rate while defense orders switched from growth to contraction. 

Accelerating Growth: fabricated metal products, HVAC

Decelerating Growth: computers/electronics, motor vehicle/parts, power generation

Accelerating Contraction: aerospace,construction materials, durable goods, off-road/construction machinery, oil/gas-field/mining machinery, primary metals, total capital goods

Decelerating Contraction:  appliances, machinery/equipment, ship/boat building

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