U.S. factory orders rebound 4.8% in September
U.S. factory orders rebound 4.8% in September (by Greg Robb)
WASHINGTON (MarketWatch) - Factory orders rebounded 4.8% in September, almost completely reversing a drop in the prior month, the Commerce Department reported Friday. The gain was very close to expectations. Economists polled by MarketWatch had forecast a 4.7% rise. Orders in August were revised up slightly to a 5.1% fall from an initially reported 5.2% decline. In September, orders for non-durable goods rose 1.0%. Shipments rose 0.8% while inventories increased 0.3%. Durable goods were revised to a 9.8% gain from 9.9% reported last week. The gain in durable-orders was largely due to a rebound in bookings for commercial aircraft. Orders for non-aircraft, non-defense capital goods rose a slight 0.2% in September.