Demand for durable manufactured goods rose 4.8% in October — largest jump in a year

New orders for manufactured durable goods — products meant to last more than three years — spiked in October due to a rising demand for machinery and other equipment, according to a report from the U.S. Department of Commerce.

New orders for manufactured durable goods in October increased $11 billion, or 4.8 percent, to $239.4 billion, marking the highest increase in a year, according to the report. In September, new orders only rose by 0.4 percent.

Demand for transportation equipment played a large role in the overall increase, jumping $9.5 billion, or 12 percent, to $88.2 billion in October, according to the report.

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