New orders for manufactured durable goods increased $6.8 billion or 3.0% to $239 billion in October, according to the U.S. Department of Commerce. Transportation equipment, which had been down in the previous two months, led the increase, jumping by $6.1 billion, or 8%, to $82.1 billion.
Unfilled orders rose by $3.5 billion or 0.3% to $1.192 billion following a 0.5% decrease in September.
In addition, nondefense new orders for capital goods increased by $9.7 billion or 13.2% to $83.2 billion, while defense new orders for capital goods rose slightly (0.1%).
Despite the positive growth in new orders, unfilled orders and new orders for capital goods, shipments of manufactured durable goods fell by $2.5 billion or 1% to $240.1 billion in October. Transportation equipment, which has sagged in two of the last three months, was primarily responsible for the slump, falling by $2 billion or 2.5% to $78.8 billion.
Inventories for durable goods fell once again in October, dropping by $0.7 billion or 0.2% to just under $400 billion. Primary metals led the decrease with its ninth straight monthly decline, registering a fall of $0.3 billion or 0.9% to 35.7 billion.
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