US Factory Orders Rose by 1.4% in September

Forex News

New orders for goods produced in the US rose during the second consecutive month in September, and orders for core capital goods were stronger than previously reported. Data from the Commerce Department showed that factory goods orders rose by 1.4% in September after rising by 1.2% in August. Orders for non-defense capital goods increased by 1.7% in September.

Orders for transportation equipment rose by 4.7%, reflecting a 30.8-percent jump in orders for civilian aircraft. Motor vehicle orders increased by 0.1% after an acceleration of 2.5% in August.

Strong business spending on equipment contribute to improving the manufacturing sector, which is about 12% of the US economy. Business investment in equipment contributed to GDP growth for four consecutive quarters.