Durable Goods Orders Up Again in September

Washington, DC, Oct. 28, 2009–Durable goods rose in September for the fourth time in the past six months, a sign factories are helping ring in an economic recovery.

The 1 percent increase in bookings for products meant to last several years matched the median estimate of economists and followed a 2.6 percent drop the prior month, Commerce Department data showed today. Excluding transportation equipment, orders climbed 0.9 percent, exceeding the survey median.

Gains in manufacturing are one reason why economists project a report tomorrow will show the economy expanded last quarter at the fastest pace in two years. 

The median estimate of economists surveyed was based on 77 forecasts that ranged from a decline of 1 percent to a gain of 4.8 percent.