Durable goods orders rose in September

After dropping 2.6 percent a month ago, new orders rose by $1.6 billion to $165.7 billion. However, it was considerably less than the consensus prediction of a 1.5 percent rise, which meant the weaker number is likely to influence stock markets Tuesday.

Excluding planes, trains and automobiles, new orders for durable goods -- goods intended to last at least three years -- rose 0.9 percent.

Excluding defense spending, new orders rose 0.5 percent.

Shipments of durable goods rose 0.8 percent or $1.3 billion to $172.6 billion in September after a 1.4 percent decline in August. Unfilled orders, down for 12 consecutive months, dropped 0.4 percent to $733.6 billion.

Durable goods inventories, down for nine months, fell 1 percent to $305 billion, Commerce said.

Copyright 2009 by United Press International.