New orders for manufactured goods increased 2.7% to $469.4 billion in October, according to the U.S. Census Bureau. The October reading followed a 0.6% increase in September.
New orders for manufactured durable goods rose 4.6% to $238.8 billion, after increasing 0.3% in September. Orders for transportation equipment drove the increase, rising 12% to $88.1 billion.
Shipments of manufactured durable goods decreased 0.1% to $234.1 billion. Transportation equipment led the decrease, falling 1.5% to $80.7 billion.
Inventories of manufactured durable goods was virtually unchanged at $383.7 billion.
Read the Census release.