New orders for U.S.-manufactured durable goods increased by 1.8% in September to reach $345.4 billion, according to the Census Bureau. The headline figure matched analyst consensus estimates and followed a revised 0.1% gain in August. The growth was primarily driven by the transportation equipment sector, which surged 4.6%, led by a recovery in aircraft and automotive orders.
Excluding transportation, new orders rose 0.5%, slightly below the 0.6% forecast. Orders for non-defense capital goods excluding aircraft—a closely watched proxy for business spending—remained positive, indicating steady investment despite elevated interest rates. Investors are now shifting focus to the Federal Open Market Committee meeting concluding tomorrow, as the manufacturing data suggests resilience in the industrial sector amid shifting economic headwinds.