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Durable Goods New Orders Continue Strong Growth
Compared with one year ago, durable goods new orders grew 13% in August. That’s five of the last six months with double-digit growth. Given the strong growth in durable goods consumer spending, new orders should see accelerating growth for at least another three months.
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New orders for real durable goods totaled $265,050 million in August 2021, which was the third highest total since December 2019. Compared with one year ago, new orders increased 13.0%, which was the fifth time in six months that the month-over-month rate of growth was faster than 10%.
August was the eighth consecutive month of month-over-month growth in durable goods new orders. The result was that the annual rate of change grew 10.5%, which was the fourth month in a row of accelerating growth and the fastest rate of growth since August 2011.
Accelerating Growth: aerospace, appliances, construction materials, durable goods, fabricated metal products, HVAC, machinery/equipment, off-road/construction machinery, power generation, primary metals, total capital goods
Decelerating Growth: computers/electronics, motor vehicles/parts
Accelerating Contraction:
Decelerating Contraction: oil/gas-field/mining machinery, ship/boat building
