U.S. factory orders rise 0.9% in September

New orders for manufactured goods to U.S. factories rose by 0.9 percent in September, the fifth increase in six months, the Commerce Department reported Tuesday.

The 0.9 percent gain is slightly better than the 0.8 percent increase economists had been expecting

Orders for durable goods, big-ticket items expected to last at least three years such as computers, cars and machinery, rose by 1.4 percent in September.

Orders for nondurable goods, including food, paper products, petroleum and coal products, increased by 0.6 percent.

U.S. manufacturers have been battered by the financial crisis and economic recession as demand has shrunk both in the United States and in their major overseas markets. But economists believe the report shows that the factory sector is bouncing back from the worst recession since the Great Depression in 1930s.

Source:Xinhua