US: Durable Goods Orders Rose 1.8% in August

According to the data published by the US Census Bureau revealed this Monday, Durable Goods Orders in the United States increased by 0.7% in August. This reading was well above market expectations pointing to a 0.5% growth and also marked a notable rebound from the previous month’s reading of -0.1%.

This data is closely followed as it gives an indication of companies’ spending plans.

Core capital goods orders rose 0.3% in July.

Economists polled by Reuters had expected capital goods orders to grow in key US 0.4%.