Factory Orders Rise Second Straight Month
Washington, DC, Dec. 5, 2012 -- New orders to U.S. factories unexpectedly rose in October, according to the Commerce Department.
The increase was due primarily to motor vehicles, which offset a decline in defense and civilian aircraft orders.
The government said orders for factory goods increased 0.8% after a revised 4.5% rise in September. It was the second straight month of gains and beat economists' expectations for a flat reading.
Factory goods orders excluding transportation rose 1.3% after advancing 1.2% in September.
Orders for durable goods rose 0.5%.