Durable-Goods Orders Rise for Fifth Consecutive Month in September
October 27 2020 - 9:13AM
Dow Jones News
By Jeffrey Sparshott
Orders for long-lasting factory goods increased for the fifth
consecutive month in September, the latest sign manufacturing
companies are recovering from supply-chain disruptions and
shutdowns related to the coronavirus pandemic.
New orders for durable goods--products designed to last at least
three years--rose 1.9% in September compared with August, the
Commerce Department said Tuesday.
A closely watched proxy for business investment--new orders for
nondefense capital goods excluding aircraft--increased by 1% last
month. The measure had recovered all of its pandemic-related losses
by August.
Orders for transportation equipment helped drive overall gains
in September. Excluding transportation, orders were up 0.8%.
U.S. factories were hit by health concerns, supply-chain
breakdowns and shutdowns early in the coronavirus crisis. But
efforts to reopen the economy have helped manufacturers regain much
of the ground lost in March and April.
Write to Jeffrey Sparshott at jeffrey.sparshott@wsj.com
(END) Dow Jones Newswires
October 27, 2020 08:58 ET (12:58 GMT)
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