According to Axios:
Demand for durable goods grew to a recent record in August, Axios’ Hope King writes.
- New orders reached $263.5 billion, the Commerce Department said on Monday, a 1.8% increase over July. Expectations were for 0.6% growth.
Driving the news: Demand for transportation equipment drove the growth. Meanwhile, defense aircraft and parts, as well as cars and car parts, were a drag on demand.