27 November 2013 15:07 [Source: ICIS news]
HOUSTON (ICIS)--New durable goods orders in the US dropped 2.0% in October, with transportation equipment leading the downturn in the economic indicator after two months of increases, the US Census Bureau said on Wednesday.
Orders decreased $4.6bn (€3.4bn) to $230.3bn, the agency said. Within that, transportation orders were down 5.9% to $73bn.
October’s downturn followed September’s 4.1% increase in orders.
Meanwhile, shipments of manufactured durable goods rose 0.2% last month to $233.2bn. Transportation items drove the increase with a 1.1% rise in shipments to $70.9bn, the Census Bureau said.
Durable goods are manufactured products meant to last three years or more and include such items as automobiles, appliances, transportation and manufacturing equipment.
Many durable goods, such as computers and automobiles, are major downstream markets for chemicals, resins and derivatives used in manufacturing processes or as end-product components.
($1 = €0.74)
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