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US factory orders rise 4.8 percent in September

November 3, 2012
By MARTIN CRUTSINGER , THE ASSOCIATED PRESS

WASHINGTON - U.S. companies boosted their orders for manufactured goods by the largest amount in 18 months in September.

Factory orders rose 4.8 percent in September compared to August, a month when orders had fallen 5.1 percent, the Commerce Department said Friday.

The September gain was the biggest since March 2011 and was driven by a surge in demand for commercial aircraft, a volatile category which had seen orders plunge in August.

Article Photos

AP PHOTO
In this Sept. 6, file photo, workers form a large spindle at Solmet Technologies in Canton, Ohio. U.S. companies boosted their orders for manufactured goods by the largest amount in 18 months in September, but companies remained cautious in ordering goods that signal plans to expand and modernize, the Commerce Department said Friday. Factory orders rose 4.8 percent in September compared to August, a month when orders had fallen 5.1 percent.

Demand for core capital goods, viewed as a good proxy for business investment plans, edged up a slight 0.2 percent in September following a 0.3 percent rise in August.

Businesses have grown more cautious for a number of reasons. Many are concerned about the economic outlook overseas. Europe's financial crisis has pushed many countries in the region into recession. That has cut into U.S. exports and corporate profits. Growth has also slowed in China, Brazil and other big developing nations which are major markets for American exports.

 
 

 

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