Business spending on equipment slowed in the second quarter after growing robustly since the first quarter of 2017. US factory goods orders rose 2.3% in August, which represents an 8.6% year-on-year increase, according to the Department of Commerce. The figure is higher than forecast and the biggest increase for almost a year, with a surge in demand for aircraft helping to boost the figure. In addition, consumer spending increased at its fastest pace since last summer, as consumers spent more on big-ticket items such as cars and homes. Nevertheless, orders for transport equipment were up more than 13%, while defence aircraft and parts rose 17%. Motor vehicle orders rose by 1%, but machinery, computers and electronics fell.
US factory goods orders rose 2.3% in August, which represents an 8.6% year-on-year increase, according to the Department of Commerce. The figure is higher than forecast and the biggest increase for almost a year, with a surge in demand for aircraft helping to boost the figure. In addition, consumer spending increased at its fastest pace since last summer, as consumers spent more on big-ticket items such as cars and homes. Nevertheless, orders for transport equipment were up more than 13%, while defence aircraft and parts rose 17%. Motor vehicle orders rose by 1%, but machinery, computers and electronics fell.