Durable-Goods Orders Rise for Fifth Consecutive Month in September
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
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.
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(END) Dow Jones Newswires
October 27, 2020 08:58 ET (12:58 GMT)
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