US factory orders rise 2.8% in September, beating estimates

Expectations was to show gain of 2.4%

By Ovunc Kutlu

ISTANBUL (AA) - US factory orders rose 2.8% in September, more than market estimates, according to Commerce Department figures released Thursday.

New orders for manufactured goods rose $16.1 billion to $601.5 billion, up for the sixth time in the last seven months.

Expectations for the figure, which measures the change in the value of new purchase orders placed with manufacturers, was to show a gain of 2.4%.

The figure in August was revised from 1.2% to 1%, which stood at $585.4 billion.

New orders for manufactured durable goods in August climbed $13.1 billion, or 4.6%, to $297 billion, up after two consecutive monthly decreases.

Transportation equipment, also up after two consecutive monthly decreases, led the gain by rising $12.3 billion, or 12.7%, to $109.2 billion.

Kaynak:

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