Durable-goods Orders Climb 3% In October
U.S. orders for long-lasting or durable goods rebounded in October to show the first increase in three months. Bookings rose a seasonally adjusted 3%, following declines of 0.8% in September and 2.9% in August. Economists polled by MarketWatch had expected a seasonally adjusted 2.1% increas last month. Orders for most industrial goods except for autos and appliances advanced, led by a surge in demand for large, commercial airplanes. Stripping out transportation, durable-goods orders rose a smaller 0.5% last month, the Commerce Department said Wednesday. Orders for core capital goods - a proxy for business investment - advanced a solid 1.3%. Yet shipments of core capital goods, a category used to help determine quarterly economic growth, fell 0.4% in October.
Copyright © 2015 MarketWatch, Inc.