After delays from the government shutdown, the Commerce Department issued a dual August/September factory orders report (link opens as pdf) today. While new orders for manufactured goods fell 0.1% in August, September saw a 1.7% increase to hit $490.8 billion.
Analysts had expected a 0.3% increase for August, followed by 1.7% growth in September. The September gain was driven by a 57.7% jump in demand for aircraft.
While new factory orders have fluctuated in recent months, much of the movement originates from aircraft orders. New orders for nondefense aircraft and parts rose 5.4% from July to August and notched a 57.7% increase from August to September.
New orders for overall durable goods advanced 3.8% for September, compared to just 0.2% growth for manufactured nondurable goods.
September's shipments, unfilled orders, and inventories all advanced to their highest levels since data was first collected in 1992. Shipments increased 0.4% to $232 billion, unfilled orders added on 0.9% to $1,042 billion, and inventories expanded 0.8% to $382 billion.
-- Material from The Associated Press was used in this report.
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