Washington, DC, November 29, 2005--Orders for durable goods increased 3.4% in October after falling a revised 2.0% in the previous month, initially reported as a 2.4% decline.
Excluding the transportation sector, durable goods orders rose 0.3% in October.
The gain in overall October orders was much larger than expected. Economists were expecting orders to rise 1.4%.
Orders for core capital goods equipment rose 1.3% in October after falling 1.7% in the previous month.
Shipments of durable goods increased 1.4% in October to record high levels after remaining flat in September.
Inventories of durable goods rose 0.4% in October after a 0.1% gain in September. Inventories have risen in three of the past four months.
In October, orders for transportation equipment had the largest increase. Orders for defense aircraft rose 140.4%, the largest increase since June 2000.
Excluding the transportation sector, durable goods orders rose 0.3% in October.
