Economics
U.S. Durable Goods Orders Expand Faster Than Expected in October
- Bookings for fabricated metals, computer equipment increase
- Core capital goods shipments climb by most since July
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U.S. durable goods orders increased at a faster-than-expected clip in October, supported by demand for computers and metals, underscoring a manufacturing sector that continues to support the economy.
Bookings for durable goods -- items meant to last at least three years -- increased 1.3% from the prior month, according to a Commerce Department report Wednesday that exceeded estimates in a Bloomberg survey that had called for a 0.8% rise. The September reading was revised up to a 2.1% increase.