Durable Goods Orders Grew 3.0 Percent in October

New orders for manufactured durable goods increased 3.0 percent to $239.0 billion in October, according to the U.S. Census Bureau. The October increase followed a 0.8 percent decrease in September. The majority of the increase was attributable to an 8.0 percent increase in new orders for transportation equipment. Excluding transportation, new orders increased 0.5 percent.

New orders excluding defense grew 3.2 percent on the month, as orders of non-defense capital goods increased by 13.2 percent to $83.2 billion. Despite an increase in new orders, shipments of non-defense capital goods fell 1.4 percent in October.

Shipments of manufactured durable goods, down two of the last three months, decreased 1.0 percent to $240.1 billion, following a 0.2 percent increase last month.

Inventories of manufactured durable goods, down five of the last six months, decreased 0.2 percent to $397.4 billion, following a 0.6 percent decrease in September.

Read the Census release.