U.S. Durable-Goods Orders Rise Fourth Time in Six Months in Recovery Sign

[Purveyor]

Source: Bloomberg

By Shobhana Chandra

Oct. 28 (Bloomberg) -- Orders for U.S. durable goods rose in September for the fourth time in the past six months, a sign factories are helping ring in an economic recovery.

The 1 percent increase in bookings for goods meant to last several years matched the median estimate of economists surveyed by Bloomberg News and followed a 2.6 percent drop the prior month, Commerce Department data showed today in Washington. Excluding transportation equipment, orders climbed 0.9 percent, exceeding the survey median.

Gains in manufacturing are one reason why economists project a report tomorrow will show the economy expanded last quarter at the fastest pace in two years. Caterpillar Inc. and Eaton Corp. are among companies saying sales will improve in coming months as more than $2 trillion in global government stimulus boosts demand from China to Europe.

“It’s an encouraging bounce back,” said Sal Guatieri, a senior economist at BMO Capital Markets in Toronto, who correctly forecast the gain in orders. “In the current quarter, the economy will be supported by a pickup in business investment. The recovery has some legs, albeit weak ones.”

The median estimate of economists surveyed was based on 77 forecasts that ranged from a decline of 1 percent to a gain of 4.8 percent.

Read more: http://www.bloomberg.com/apps/news?pid=20601087&sid=aM4BDwAYoatU

[skipos]

1. News that isn't gloomy doesn't get many responses around here

Too bad.

[Purveyor]

2. True but the negative responses that normally accompany such articles

seem to be dwindling a tad.

We are seeing some glimmer of life in the economy around these mid-michigan parts. Hopefully it will continue in the positive direction.

[ixion]

3. "ring in an economic recovery"...

:rofl:

One word: Delusional.