September Factory Orders Rise 1.7%
WASHINGTON (AP) — Orders to U.S. factories rose in September after two months of declines on a big jump in demand for commercial aircraft. But orders that signal business confidence in the economy fell.
The Commerce Department says factory orders increased 1.7 percent in September from August. The gain was driven by a 57.7 percent jump in demand for aircraft.
But so-called core capital goods, which include machinery and electronics and are good measure of business investment plans, fell 1.3 percent in September. That’s the second drop in the past three months.
Rising factory orders provide support for the manufacturing sector and the overall economy. There have been encouraging signs that rising export sales may be offsetting weakness in domestic demand.
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