fxs_header_sponsor_anchor

News

US Durable Goods Orders post 0.0% in August, GDP confirmed at 3%

  • Durable Goods Orders in the US stayed pat in August, beating expectations.
  • The US confirmed that the economy grew at an annualized pace of 3% in Q2.
  • The US Dollar Index gains upward momentum with the news, approaching 101.00.

“New orders for manufactured durable goods in August, up six of the last seven months, increased $0.1 billion or virtually unchanged to $289.7 billion,” the US Census Bureau reported.

“This followed a 9.9 per cent July increase. Excluding transportation, new orders increased by 0.5 per cent. Excluding defense, new orders decreased 0.2 percent. Electrical equipment, appliances, and components, up two of the last three months, drove the increase, $0.3 billion or 1.9 per cent to $14.4 billion.”

At the same time, Real Gross Domestic Product (GDP) increased at an annual rate of 3.0 per cent in the second quarter of 2024, as previously estimated, according to the US Bureau of Economic Analysis (BEA).

Market reaction

The US Dollar Index jumped with the positive news and hovers around 100.80 ahead of the American opening. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.