U.S. durable goods orders rebound in October

Source: Xinhua | 2019-11-28

U.S. durable goods orders rose 0.6 percent in October, following a revised 1.4 percent drop in September, the Commerce Department reported Wednesday.

Durable goods orders in October reached 248.7 billion U.S. dollars, according to the advance report on manufacturers' shipments, inventories and orders from the U.S. Census Bureau.

Excluding transportation, new orders increased 0.6 percent from previous month. Excluding defense, new orders edged up 0.1 percent. Fabricated metal products led the increase, 0.6 billion dollars or 1.8 percent to 34.1 billion dollars, the report showed.

Orders for military aircraft and parts in October rose 18.1 percent from previous month, following its growth of 14.6 percent in September. Orders for nondefense aircraft and parts, meanwhile, increased 10.7 percent in October, after dropping for 19 percent in September.

New orders for nondefense capital goods excluding aircraft, known as "core capital goods," increased 1.2 percent in October, following a 0.5 percent decline in September. New orders for defense capital goods, meanwhile, added 16.6 percent, following a 0.8 percent growth in previous month.

Year-to-date durable goods totaled 2,490 billion U.S. dollars, down 0.8 percent compared with a year ago. Excluding transportation, year-to-date durable goods increased 0.6 percent. Excluding defense, year-to-date durable goods dropped 0.9 percent.

Shipments of manufactured durable goods in October were slightly up to 251.6 billion dollars, following a 0.7-percent decline in September.