US durable orders rebound in October
However, US durable goods orders fell 4.2% in the first ten months of the year compared with the same period of last year due to lower crude oil prices, a strong dollar and weaker global demand.
The increase was attributed to higher orders for non-defence aircraft and parts, which surged 81%. Orders for motor vehicles and parts fell 2.9% in October. Excluding transportation, durable goods orders were up 0.5% last month, posting the highest gain since June. Excluding defense, durable orders climbed 3.2% in October. Defense orders, meanwhile, increased 1% in October.
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