Orders for long-lasting U.S. manufactured goods edged higher in August, signaling that the factory sector gained a step midway through the third quarter.
Durable goods orders rose 0.1 percent during the month, the Commerce Department said on Wednesday.
The report showed that shipments of non-military capital goods other than aircraft grew 1.3 percent during the month, snapping two straight months of declines.
The reading for these so-called “core” shipments feeds directly into the government’s estimates for total economic growth, and the increase supports the view that government austerity is taking only a modest bite from national output.
New orders for core durable goods, which is viewed as a gauge of business spending plans, rose 1.5 percent in August. That was below economists’ expectations and not enough to make up for the 3.3 percent decline registered in July.
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