New factory orders for manufactured goods climbed 0.5% in October, the Commerce Department said yesterday. The factory order increase, a $2.309 billion rise to $423.5 billion, contrasted the unchanged level projected by IFR Markets and came after a revised 0.3% increase to $421.2 billion in September, originally reported as a 0.2% rise to $420.7 billion.Excluding transportation, the level of all new manufacturing orders rose 0.6% to about $361.3 billion in October, following a 1.6% rise in September to $358.4 billion. The increase compared to a 0.3% decrease projected by IFR.Excluding defense, new orders rose 0.3% to $412.5 billion, following a 1.2% increase to $411.1 billion in September.New orders for durable goods slid 0.2% to $215.0 billion in October, while orders for non-durable goods rose 1.3% to $208.5 billion.Inventories increased 0.1% to $520.0 billion, while the inventory-to-shipment ratio fell to 1.23 from 1.24 in September.
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