USA: Stronger than expected increase in industrial orders


(CercleFinance.com) – New orders for American industry increased more vigorously than expected in September, mainly supported by a surge in orders in aeronautics.

Industrial orders rose 2.8% in September, according to data released Thursday by the Commerce Department.

The September statistic was revised downward to show a gain of 1% instead of the 1.2% increase previously announced.

Economists expected an increase of the same level in September.

Over one year, they show an increase of only 0.7%.

Orders for transport equipment rebounded by 12.7% after two consecutive months of decline, driven by a surge of more than 92% in orders for civil aeronautics and spare parts.

Orders for non-aeronautics capital goods, often considered as a barometer of companies’ investment projects, increased by 0.8%.

Copyright (c) 2023 CercleFinance.com. All rights reserved.



Source link -84