Factory orders rose more than expected

Factory orders rose by 0.3% in September month-over-month, according to a report from the Commerce Department on Thursday.

That was more than economists’ expectations of an uptick by 0.2%, according to the Bloomberg survey.

August’s increase was revised up to 0.4% from 0.2%.

Factory orders excluding transportation hiked by 0.6%. Meanwhile, new orders for manufactured durable goods decreased by 0.3%.

The report also noted that shipments increased by 0.8%, while unfilled orders fell by 0.4%.

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