WASHINGTON (AP) – Orders to U.S. factories for big-ticket manufactured goods showed a modest gain in October with a key category that tracks business investment also showing weakness.
Orders for durable goods, items expected to last at least three years, edged up a slight 1.3% in October after a 2.1% gain in September, the Commerce Department said Thursday.
A category that tracks business investment plans rose a slight 0.7% in October after a 1.9% gain in September.
Economists are concerned that U.S. factories are still facing significant headwinds including a sharp rise in recent weeks in coronavirus cases that could cause demand to suffer in coming months.
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