WASHINGTON — New factory orders for manufactured goods rose 0.6% in October, the sixth increase in seven months, the Commerce Department reported today.
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Orders excluding transportation rose 0.5% and durable goods orders decreased 0.6%. Orders for primary metals increased 4.3%, the largest increase since June.
Economists expected factory orders to be unchanged in October, according to the median estimate provided by Thomson Reuters.
New factory orders increased 1.6% in September, revised higher from the 0.9% gain initially reported.
Unfilled orders fell 0.4% for a record 13th consecutive decline. Records for the series began in 1992.
Inventories fell by 0.1%, the 10th straight monthly decline.
Total factory orders were down 20.7% from a year ago.
