Economy

xchrom

(108,903 posts)

36. US DURABLE GOODS ORDERS UP 9.9 PERCENT

Thu Oct 25, 2012, 08:49 AM

Oct 2012

http://hosted.ap.org/dynamic/stories/U/US_DURABLE_GOODS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2012-10-25-08-35-50

WASHINGTON (AP) -- Orders for long-lasting U.S. manufactured goods surged in September by the largest amount in nearly three years, reflecting a rebound in aircraft orders.

But a key category that tracks business investment showed weakness for a fourth straight month, indicating companies remain uncertain about the future.

The Commerce Department says orders for durable goods jumped 9.9 a percent after a 13.1 percent drop in August. Orders for core capital goods, considered a good proxy for business investment, were unchanged in September after a slight August gain.

Growth in manufacturing orders has slowed this year, which has weakened economic growth. High unemployment and low pay have kept consumers from spending. Businesses have held back on investing in machinery and equipment. And slower global growth has dampened demand for U.S. exports.

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