Modest gain of 1.3% in October for manufactured goods - Times Union

MARTIN CRUTSINGER, AP Economics Writer

Nov. 25, 2020Updated: Nov. 25, 2020 9:07 a.m.

Rows of boxed big-screen televisions sit on display at a Costco warehouse in this photograph taken Wednesday, Nov. 18, 2020, in Sheridan, Colo. Orders for big-ticket manufactured goods slow to modest gain of 1.3% in October indicating economy is slowing.David Zalubowski/AP

WASHINGTON (AP) — Orders to U.S. factories for big-ticket manufactured goods showed a modest gain in October with a key category that tracks business investment also showing weakness.

Orders for durable goods, items expected to last at least three years, edged up a slight 1.3% in October after a 2.1% gain in September, the Commerce Department said Thursday.

A category that tracks business investment plans rose a slight 0.7% in October after a 1.9% gain in September.

Economists are concerned that U.S. factories are still facing significant headwinds including a sharp rise in recent weeks in coronavirus cases that could cause demand to suffer in coming months.

Written By

MARTIN CRUTSINGER

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