New orders for U.S. manufactured goods rose 4.8 percent in September, evidence that the U.S. manufacturing sector was gaining momentum, the U.S. Department of Commerce reported Friday.
U.S. factory orders increased to a seasonally adjusted $475.4 billion, following a revised 5.1 percent decrease in August.
New orders for durable goods, big-ticket items which are expected to last at least three years such as computers, cars and machinery, rose 9.8 percent to $218.2 billion in September, the largest increase in nearly three years.
New orders for non-durable goods, including food, paper products, petroleum and coal products, rose 1.0 percent to $257.2 billion for the month.
Manufacturing sector has been a bright spot in the U.S. economic recovery. A separate report released on Thursday showed that after three months of slight contraction, U.S. manufacturing expanded for the second consecutive month in October.
Hispanic #1 Breaking News for Entrepreneurs, Professionals and Small Business Owners - HispanicBusiness.com
OCTOBER 31, 2014
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