US durable goods orders rise more than expected in October

ANKARA

US durable goods orders increased more than expected in October, according to official data released on Wednesday.

New orders for manufactured durable goods rose $2.8 billion, or 1%, to $277.4 billion, the US Commerce Department’s Census Bureau said in a report.

The market estimate for the figure was a 0.4% increase.

In September, durable goods orders climbed 0.3% to $274.6 billion.

Transportation equipment, which was up for the sixth time in the past seven months, led October’s gain with an increase of $2 billion, or 2.1%, to reach $97.8 billion, according to the report.

“Excluding transportation, new orders increased 0.3%. Excluding defense, new orders increased 0.4%,” the report said.