Nov 25, 2020
U.S. Durable Goods Orders Expand Faster Than Expected in October
Bloomberg News
,(Bloomberg) -- 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.
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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. Also, the September reading was revised up to a 2.1% rise.
The October data topped the median estimate of economists in a Bloomberg Survey, which called for a 0.8% gain in October.
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