US durable goods orders rise more than expected in October

US durable goods orders rise more than expected in October

New orders for manufactured durable goods increase 1%, above market estimate of 0.3% gain

By Ovunc Kutlu

ANKARA (AA) – US durable goods orders increased more than expected in October, according to official data released on Wednesday.

New orders for manufactured durable goods rose $2.8 billion, or 1%, to $277.4 billion, the US Commerce Department’s Census Bureau said in a report.

The market estimate for the figure was a 0.4% increase.

In September, durable goods orders climbed 0.3% to $274.6 billion.

Transportation equipment, which was up for the sixth time in the past seven months, led October’s gain with an increase of $2 billion, or 2.1%, to reach $97.8 billion, according to the report.

“Excluding transportation, new orders increased 0.3%. Excluding defense, new orders increased 0.4%,” the report said.

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