U.S. durable good orders rise sharply in October

U.S. durable good orders rise sharply in October

The US Census Bureau reported today that demand for so-called durable goods (big-ticket items expected to last three years or more) jumped 3.4 percent in October. The new numbers mark a dramatic turnaround from September's revised number which indicated a two percent decrease. Among the notable sector increases, aircraft orders rose unexpectedly, including a remarkable 50 percent spike in civilian aircraft orders following a 41.6 percent drop in September. The overall increase in durable goods was not wide-based, however, with electronics and computers falling 1.3 percent and automobiles dropping 2.2 percent.