U.S. Durable Goods Orders Unexpectedly Unchanged In August

(RTTNews) - A report released by the Commerce Department on Friday showed new orders for U.S. manufactured durable goods unexpectedly came in nearly flat in the month of August.

The Commerce Department said durable goods orders were virtually unchanged in August following a downwardly revised 0.9 percent increase in July.

Economists had expected durable goods orders to decrease by 0.4 percent compared to the 1.1 percent jump that had been reported for the previous month.

Excluding a pullback in orders for transportation equipment, durable goods orders rose by 0.3 percent in August after climbing by 0.7 percent in July. Ex-transportation orders were expected to grow by 0.5 percent.