US factory orders rise 2.1 per cent in September
04 Nov 2010
The US factory demand has recorded a more than expected increase in September, boosted by orders for more commercial aircraft and heavy machinery, as the nation's economy is struggling to recover from the worst recession over many decades, prompting the government to infuse additional stimulus funds into the financial system.
Orders for factory goods increased 2.1 per cent in September following a flat index in August, posting its biggest gain in 8 months, according to the US commerce department data released Wednesday.
Analysts estimated a rise of 1.7 per cent in factory orders for September, compared to the 0.5-per cent fall originally reported for the previous month.
The growth is mainly attributable to significant increase in orders for transportation equipment, which rose to almost 16 per cent in September, after witnessing a 9-per cent fall in the previous month.
Orders for commercial aircraft and parts registered a whopping 105-per cent growth for the month.
Long-lasting durables, including transportation equipment orders registered the highest growth of 3.5 per cent since January, while photographic and communication equipment orders declined maximum to around 19 per cent and 21 per cent respectively for the month.
