Business

US factory orders up 0.8 percent in October

WASHINGTON — Orders to US factories rose modestly in October, helped by a big gain in demand for equipment that reflects business investment plans.

Factory orders edged up 0.8 percent in October, the Commerce Department said Wednesday. The increase slowed from a 4.5 percent jump in September.

Advertisement

Orders for core capital goods, a category viewed as a good proxy for business investment plans, increased 2.9 percent in October, the biggest increase in eight months. The increase came after big declines in the investment category this summer.

Orders for durable goods rose 0.5 percent in October, up from a preliminary estimate of no gain, while orders for nondurable goods, items such as chemicals and paper, were up 1.1 percent.

Businesses have been holding back on investment plans because they are worried about the fiscal cliff and the Eurpean debt crisis.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
You're reading  1 of 5 free articles.
Get UNLIMITED access for only 99¢ per week Subscribe Now >
You're reading1 of 5 free articles.Keep scrolling to see more articles recomended for you Subscribe now
We hope you've enjoyed your 5 free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com