Orders for U.S. manufactured goods rose 1% in October, the Commerce Department said Monday. This was the twelfth increase in the past thirteen months.
Economists surveyed by the Wall Street Journal were expecting a gain of 0.7%. Orders rose 0.3% in September.
The factory sector, which led the economy’s recovery from the pandemic, has started to struggle. A key gauge that looks ahead, the national ISM manufacturing index, has slipped into contractionary territory in November.
Durable-goods orders rose a revised 1.1% in October compared with the initial estimate of a 1% gain.
Orders for nondurable goods were up 1% in the month.
Orders for nondefense capital goods, excluding aircraft, rose a revised 0.6% October, down slightly from the initial estimate of a 0.7% drop.