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US durable goods orders edged up a modest 0.8% in Sept

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Orders to U.S. factories for big-ticket manufactured goods slowed significantly in September, while a key category that tracks business investment fell for a second straight month.

The Commerce Department says demand for durable goods edged up a slight 0.8 percent in September, a sharp slowdown from a 4.6 percent jump in August. The swing was heavily influenced by the volatile aircraft category, which fell 17.5 percent in September after having surged 63.7 percent August.

The category that serves as a proxy for business investment dipped 0.1 percent in September following a 0.2 percent fall in August. The recent weakness in investment orders has raised concerns about whether a growing trade war with China and stock market volatility were making businesses more cautious.

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Economy

US jobless claims rise; continuing claims are the lowest in over 45 years

Key Points
  • New applications for U.S. unemployment aid rose last week.
  • The number of Americans receiving benefits fell to more than a 45-year low, pointing to tightening labor market conditions.
  • Initial claims for state unemployment benefits increased 5,000 to 215,000 for the week ended Oct. 20, the Labor Department said on Thursday.
  • Claims fell to 202,000 during the week ended Sept. 15, which was the lowest level since November 1969.