WASHINGTON (Reuters) – U.S. factory orders rose more than expected in October amid a surge in demand for equipment and other goods, which could ease fears of a slowdown brutal in the manufacturing sector.
According to data released Monday by the US Department of Commerce, these orders rose 1.0% in October after gaining 0.3% the previous month. Over one year, their growth stands at 12.8%.
Economists polled by Reuters had forecast a limited rise of 0.7% in October from September.
While the manufacturing sector accounts for 11.3% of the US economy, a survey released last week by the Institute for Supply Management (ISM) showed the sector contracted in November for the first time since May 2020. , the index having come out at 49.0 against 50.2 the previous month.
US factory orders were driven in October by a 2.2% increase in transport equipment, a 1.7% gain in automobiles, a 1.5% increase in machinery, as well as as strong reservations in computers, electronics and household appliances.
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(Report Lucia Mutikani, French version Claude Chendjou, edited by Kate Entringer)
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