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U.S. factory orders up 0.8% in October

U.S. factory orders up 0.8% in October (by Greg Robb)

WASHINGTON (MarketWatch) - Factory orders rose 0.8% in October, much stronger than expected, the Commerce Department reported Wednesday. Economists polled by MarketWatch had forecast a 0.1% decline in factory orders. Economists had been worried that manufacturing was a weak spot in the recovery. Orders for durable goods in October were revised higher to a 0.5% gain from the prior estimate that they were flat. New orders for nondurable goods increased 1.1%. Shipments and inventories both gained 0.4%. Orders for nondefense capital goods increased 1.8% in the month.