Orders to U.S. factories for big-ticket manufactured goods rebounded last month on a surge in demand for military aircraft.
The Commerce Department says orders for durable goods — which are meant to last at least three years — rose 0.6% in October after dropping 1.4% in September. Orders for military aircraft soared 18.1%. Excluding defense, durable goods orders blipped up 0.1%.
The numbers reflected a strike at General Motors, settled in late October. Orders for cars and auto parts fell 1.9% in October and 2.9% in September.
American manufacturing has been hurt by a trade war with China and a slowing global economy. Overall October orders were better than economists had expected.
In addition, a closely watched category that tracks business investment rose 1.2% last month after dropping in September.