US Factory Orders Rose in October

By Matt Grossman

Orders for manufactured goods increased last month, bucking two months of declines, the Commerce Department said Wednesday.

October orders totaled $586.7 billion, up from $585.6 billion in September. The 0.2% month-over-month improvement was in line with the consensus forecast from economists surveyed by The Wall Street Journal.

Durable-goods orders grew 0.3% to $286.8 billion, including a 0.5% increase in orders for transportation equipment. Orders for nondurables were up 0.1% to $299.9 billion.

The backlog of unfilled orders grew by 0.4% to $1.399 trillion, marking the 50th monthly increase in the last 51 months.

Inventories of manufactured durable goods were roughly unchanged at $527.7 billion, and nondurable inventories decreased 0.1% to $329.1 billion.

Write to Matt Grossman at [e-mail]

(END) Dow Jones Newswires

12-04-24 1034ET