October’s increase in durable goods shows manufacturing is stronger
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Manufacturing News, Source : TheManufacturer.com
Published : 27 Nov 2002 19:38
Excluding transportation, orders for durable goods increased by 2.4% in October, according to the Commerce Department’s latest report.
Following a significant improvement over September’s flat order rate and August’s decrease, experts say industrial production will likely pick up in the near future.
“Today’s report is evidence that the manufacturing recovery is getting back on track after stalling in previous months,” said Jerry Jasinowski, president of the National Association of Manufacturers.
Primary and fabricated metals and overall non-defense capital goods all posted gains in October for the second time in three months. Despite a strong surge in September, new orders for computers decreased.
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