US durable goods orders rise 1.8% in September

By Gokhan Ergocun

ISTANBUL (AA) - US durable goods orders rose 1.8% month-on-month in September to reach $345.4 billion, the Commerce Department reported on Tuesday.

The increase fell slightly short of market expectations for a 2% gain, following a 0.1% rise in August.

The September growth was largely driven by a 4.6% jump in orders for transportation equipment.

Excluding transportation, new orders edged up 0.5% on a monthly basis, while orders excluding defense climbed 2.2%.

Durable goods orders, which cover manufactured products designed to last at least three years, serve as a key indicator of industrial production.

Gökhan Ergöçün