US factory orders rise 4.8% in September
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Buy SPH photosWASHINGTON (AP) - US companies boosted their orders for manufactured goods by the largest amount in 18 months in September, but they remained cautious in ordering goods that signalled plans to expand and modernise.
Factory orders rose 4.8 per cent in September compared to August, a month when orders had fallen 5.1 per cent, the Commerce Department said on Friday.
The September gain was the biggest since March last year and was driven by a surge in demand for commercial aircraft, a volatile category that had seen orders plunge in August.
Demand for core capital goods, viewed as a good proxy for business investment plans, edged up a slight 0.2 per cent in September following a 0.3 per cent rise in August. The two modest gains followed two months of huge declines as business investment remained weak.
