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Economic Report: U.S. factory orders rise in October

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Orders for U.S. manufactured goods rose 1% in October, the Commerce Department said Monday. This was the twelfth increase in the past thirteen months.

Economists surveyed by the Wall Street Journal were expecting a gain of 0.7%.  Orders rose 0.3% in September.

The factory sector, which led the economy’s recovery from the pandemic, has started to struggle. A key gauge that looks ahead, the national ISM manufacturing index, has slipped into contractionary territory in November.

Durable-goods orders rose a revised 1.1% in October compared with the initial estimate of a 1% gain. 

Orders for nondurable goods were up 1% in the month.

Orders for nondefense capital goods, excluding aircraft, rose a revised 0.6% October, down slightly from the initial estimate of a 0.7% drop.

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