Durable-goods orders in September increased by 3.3% to a seasonally adjusted $199.16 billion, the Commerce Department said Wednesday, the biggest rise since January. Economists surveyed by Dow Jones Newswires expected a 2.5% rise. But excluding transportation, orders for all other durables fell 0.8% last month.
Not including defense, durables orders rose 2.9%. New orders for non-defense capital goods excluding aircraft, a barometer of capital spending by businesses, fell 0.6%.
"Overall, these figures suggest that the industrial recovery is nearing extinction," said Capital Economics economist Paul Dales. "Without it, the overall economy is going to struggle."
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