This article exists as part of the online archive for HuffPost Canada, which closed in 2021.

Orders for US durable goods jump 3 per cent in October with solid investment advance

WASHINGTON — Orders for long-lasting manufactured goods posted a solid gain in October after two months of weakness, while a key category that tracks business investment plans advanced by the largest amount in three months.

The Commerce Department says that orders for durable goods rose 3 per cent in October following declines in both September and August. The strength was led by a surge in demand for commercial aircraft but reflected widespread gains in a number of categories, from machinery to computers. A key category that serves as a proxy for business investment spending rose 1.3 per cent in October, the best showing since July.

American manufacturers have struggled this year with weakness in many key export markets and a strong dollar, which makes U.S. goods less competitive.

Martin Crutsinger, The Associated Press

Suggest a correction
This article exists as part of the online archive for HuffPost Canada. Certain site features have been disabled. If you have questions or concerns, please check our FAQ or contact support@huffpost.com.