New orders for manufactured goods jumped to their highest level since 1992 in September, surging 7.8 percent to $226.7 billion.
The jump, the biggest since 2000, was led by a surge in demand for commercial aircraft, which soared 183 percent as a result of a big increase in orders to Boeing Co.
The Commerce Department reported Thursday that shipments for manufactured durable goods decreased 2.8 percent, following August's 2 percent decrease. Unfilled orders, up sixteen of the last seventeen months, increased 3.8 percent to the highest level since 1992.
Inventories of manufactured durable goods increased by 1 percent in September. Inventories, up eight of the last nine months, increased 1 percent, following a 0.6 percent August increase.
Nondefense new orders for capital goods in September increased 21.9 percent, and defense new order increased 41.9 percent.
“The jump in durable goods orders largely reflects a surge in civilian aircraft orders,” said Don Norman, economist for the Manufacturers Alliance/MAPI. “If orders for transportation are excluded, orders rose by 0.1 percent. Still, this modest increase is a turnaround from two consecutive months of decreases in the durable goods orders. We expect manufacturing activity will continue expanding, albeit at a more modest pace than it did during the first half of the year.”