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Manufactured Goods Orders Increase At Highest Rate In 17 Months

New orders for manufactured goods in the U.S. climbed for the fourth consecutive month in October, the Commerce Department announced Tuesday.

New orders for manufactured goods in the U.S. climbed for the fourth consecutive month in October, the Commerce Department announced Tuesday.

The overall number of new orders totaled $469.4 billion, up $12.5 billion compared to September's numbers, and the 2.7 percent gain, Reuters reported, was the largest since June 2015.

Orders for durable goods increased by $10.6 billion, or 4.6 percent, to $238.8 billion. Transportation equipment orders, which increased by $9.4 billion, primarily fueled that spike.

Shipments narrowly increased again in October to $464.7 billion, the seventh increase in the past eight months, while unfilled orders increased by $8.2 billion after fourth months of declines. Inventories were virtually unchanged from the September and August totals.

Reuters noted that although the numbers echoed recent surveys showing strong activity in factories, a strong dollar — which makes U.S. exports more expensive — could hamper domestic manufacturing the wake of the presidential election.

In addition, orders for non-defense capital goods excluding aircraft — an indicator of business investment — rose 0.2 percent, a smaller increase than September, while orders for those items declined slightly.