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U.S. factory orders climb 1.1% in September
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Manufacturers lead the U.S. economic recovery
U.S. manufacturers are leading the U.S. economic recovery.
Spencer Platt/Getty Images
U.S. factory orders rose 1.1% in September to mark the fifth straight gain, pointing to a steady recovery in the manufacturing segment of the economy.
Economists polled by MarketWatch had forecast a 1% increase.
Orders for nondurable goods such as clothing and food products rose a smaller 0.3%.
Manufacturers have rebounded faster than the much larger service side of the U.S. economy and have shown little letup despite a fresh coronavirus outbreak.
Read: U.S. manufacturers speed up as ISM survey hits 2-year high
The Dow Jones Industrial Average
DJIA,
and S&P 500
SPX,
rose in early Tuesday trading as the nation awaited the results of the 2020 presidential election. Democratic Joseph Biden was ahead in the polls.
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