Factory orders rebounded in September

WASHINGTON, Nov. 3 (UPI) -- New orders for manufactured U.S. goods rose in September for the fourth time in the past five months, the U.S. Census Bureau reported Tuesday.

New orders rose by $3.3 billion, recording a strong 0.9 percent gain, to $356.1 billion, following a 0.8 percent drop in the previous month.

The trend that looked broken a month ago turns out to be in good shape with the decline in August attributed to a relatively strong spike in July pushed by increased orders for aircraft.

Unfilled orders in September, down 12 consecutive months, fell 0.4 percent to $733.3 billion. Shipments of durable goods, on a three-month trend, rose 1.8 percent to $173.2 billion. Non-durable goods shipments increased 0.6 percent to $189.9 billion, following a 0.9 percent increase in August.

Inventories in the month for durable goods rose 1 percent, while nondurable good stockpiles fell 0.9 percent.

The report is seen as moderately influential in day-to-day market movement, but will be viewed by economists as more evidence of an economic recovery.