WASHINGTON — The value of new factory orders jumped 4.8% in September, only slightly below the 4.9% jump expected in an MNI survey, data released by the Commerce Department Friday morning showed.
Total factory orders excluding transportation were up 1.4% in September, reflecting a 1.0% rise in nondurables orders and an MNI calculation of a 2.0% rise in non-transportation durables orders. The increase in factory orders excluding transportation was the largest since a matching 1.4% rise in February.
The nondurable orders rise was led by a 3.7% jump in petroleum and coal products, continuing the string of strong gains in that category. Nondurables shipments are equivalent to orders in this report.
Durable goods orders are now reported as up 9.8% in September, revised down slightly from the 9.9% advance estimate.
Transportation orders were revised down to a 31.3% increases in September from the 31.7% advance estimate. Motor vehicles orders were down 1.6%, while nondefense aircraft orders are reported up 2649.7%, larger than the already huge 2640.7% increase in the advance estimate.
Overall factory shipments rose 0.9% in the month, while nondefense capital goods shipments were up 1.5%, but were down 0.2% excluding the civilian aircraft component.
Factory inventories rose 0.6% in September, keeping the inventory-to-shipments ratio at 1.28 for a second month. Unfilled orders posted a 0.2% rise.
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