Washington, September, 24-- Orders for new durable goods fell 0.5 percent in August, held back by a 42.8 percent drop in orders for civilian airplanes, the Commerce Department estimated Friday.
Excluding the 6.8 percent drop in orders for transportation goods, however, orders rose 2.3 percent, the biggest increase since March.
Economists were expecting total durable-goods orders to fall about 0.2 percent, according to a survey conducted by CBS MarketWatch.
Orders had increased a revised 1.8 percent in July and 1.3 percent in June. Orders are up 12.4 percent year-over-year.
Orders are a key leading indicator of the nation's economic health. But the monthly numbers can be very volatile, in part because aircraft orders are so lumpy. In August, for instance, Boeing booked 20 new aircraft orders, down from 75 in July.
Shipments, which reflect current production, rose 1.7 percent during August after gaining 0.4 percent in July. It was the biggest gain since March. Shipments are up 11.1 percent in the past year to the highest level since April 2000.
Unfilled orders increased 0.3 percent. Inventories increased 0.6 percent.
Orders for core capital goods - excluding both defense goods and civilian aircraft - fell 0.5 percent in August, but are up 12.6 percent in the past year. Core capital goods orders are the best monthly indicator of business investment.
Outside of transportation, most sectors recorded healthy gains in orders and shipments.
Orders for computers and electronics rose 4.1 percent while shipments increased 1 percent. Most of the gains were in communications equipment.
Orders for machinery were unchanged while shipments fell 1.1 percent.
Orders for primary metals dropped 0.5 percent while shipments increased 1.8 percent.
Orders for electrical equipment increased 1.8 percent while shipments rose 1.4 percent.
Transportation orders fell 6.8 percent while shipments increased 4.6 percent. Orders for motor vehicles increased 5.7 percent while shipments increased 5 percent.
Orders for defense capital goods increased 4.5 percent while shipments increased 1.5 percent.
