U.S. Factory Orders Rise for Fifth Time in Six Months

Orders placed with U.S. factories rose in September for the fifth time in six months, reinforcing signs that manufacturing will drive the economic recovery.

Bookings increased 0.9 percent, exceeding the median forecast of economists surveyed by Bloomberg News, after dropping 0.8 percent in August, figures from the Commerce Department showed today in Washington. Excluding demand for transportation equipment which tends to be volatile, orders climbed 0.8 percent after a 0.3 percent August gain.

A record plunge in stockpiles and a boost to exports, in part from more than $2 trillion in global stimulus, means companies will ramp up production. The acceleration in manufacturing will help the economy grow this quarter, building on the expansion that began in the previous three months.

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- Posted: 2009-11-03 10:32:12

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