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US durable orders rebound in October

by ChemOrbis Editorial Team -
  • 26/11/2015 (11:13)
According to a report released by the US Commerce Department, durable goods orders posted a seasonally adjusted increase of 3% in October from a month earlier after declining for two months in a row. Economists’ initial estimates called for a gain of 1.8% in a survey by the Wall Street Journal. Meanwhile, the Commerce Department revised September’s figure to a decrease of 0.8% from the previously estimated drop of 1.2%.

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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