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.
Most Popular Stories
- Cape Cod Building Mussel Industry
- Hollywood Eager to Grasp Hispanic Market
- Frightfully Fun Films Return for Halloween
- Would Soccer Be Richer Without Small Clubs?
- Microsoft Beats Income Expectations
- Sears Denies Store Closings, Layoffs Report
- Cloud Lifts Microsoft's Quarterly Results
- IS Funded by Black Market Oil Sales, Racketeering
- Weekly Jobless Claims Rise but Remain Low
- Pfizer Approves $11 Billion Buyback Plan