WASHINGTON – Orders to U.S. factories for big-ticket manufactured goods slowed significantly in September, while a key category that tracks business investment fell for a second straight month.
The Commerce Department says demand for durable goods edged up a slight 0.8 per cent in September, a sharp slowdown from a 4.6 per cent jump in August. The swing was heavily influenced by the volatile aircraft category, which fell 17.5 per cent in September after having surged 63.7 per cent August.
The category that serves as a proxy for business investment dipped 0.1 per cent in September following a 0.2 per cent fall in August. The recent weakness in investment orders has raised concerns about whether a growing trade war with China and stock market volatility were making businesses more cautious.