U.S. factory orders rise 0.9% in September

Orders to U.S. factories rebounded in September, helped by strength in autos, heavy machinery and military aircraft. The fifth increase in six months bolstered hopes that a revival in manufacturing will help support an overall economic recovery. The worry is that if consumer spending falters in coming months, orders will slump again. The Commerce Department says that orders rose 0.9% in September, slightly better than the 0.8% gain economists had expected. Demand increased for both durable goods, and nondurable goods such as chemicals and energy products. New orders for durable goods, items expected to last at least three years, advanced 1.4%, better than the 1% estimate the government made last week. Demand for heavy machinery jumped 7.9%, the biggest gain in 18 months. There also was strong demand for military aircraft, which helped offset a second-straight drop in orders for commercial airplanes. Orders for nondurable goods rose 0.6% following a 0.9% increase in August, led by petroleum, chemicals and food products.