The following US economic statistics were announced today:

Durable goods orders collapsed in August, posting a –13.2% decline overall, and a –1.6% decline ex-transportation. It is the worst monthly drop in 3 1/2 years. Aircraft orders fell –101.8%.

GDP growth for the second quarter for the final revision was unexpectedly revised down to 1.3% annualized. The GDP price index rose 1.6%

The Bureau of Economic Analysis says that corporate profits in the 2nd quarter decreased to $1.665 trillion annualized, compared to $1.671 trillion in the first quarter.

Initial jobless claims for last week were down a sharp 26,000 to 359,000, while the 4-week average dropped 4,500 to 374,000. Continuing claims  fell 4,000 to 3.271 million.

The Kansas City Fed manufacturing index in August posted at 2 for September, down from 8 last month.

The Bloomberg Consumer Comfort Index rose to –39.6 from –40.8 last week.

The pending home sales index fell –2.6% in August to 99.2, erasing last month’s 2.4% increase.

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Dale Franks
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