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Durable goods rise in October

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Durable goods rise in October

Increase unexpected, but largely driven my defense-related orders.

New orders for manufactured durable goods increased 0.4% in October, the U.S. Census Bureau announced today. This increase followed a 0.3% decrease in September.

Analysts had expected a decrease of 0.5%.

Excluding transportation, new orders decreased 0.9%, the largest decrease in 11 months.

The increase in overall new orders was driven almost entirely by defense spending, suggesting sluggishness in the overall economy. Excluding defense, new orders decreased 0.6%. 

For the full report, click here.

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