Manufacturing Shows Resilience Despite Auto Strike and Rate Hikes

Durable goods orders increased 0.2% in August, beating expectations of a 0.5% decline.
Core capital goods orders rebounded 0.9% in August after falling in July, pointing to some momentum in business spending.
Machinery orders and shipments increased in August, but civilian aircraft orders plunged.
The data suggests resilience in manufacturing despite aggressive Fed rate hikes to curb inflation.
A strike by auto workers against GM, Stellantis and Ford could pressure manufacturing.

reuters.com

Relevant topic timeline:

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Posted 9/27/2023, 2:13:00 PM