Orders for durable goods rose sharply in October, but most of the gain was tied to defense-related goods such as fighter jets and ships, according to MarketWatch wire service.
Bookings for civilian products barely rose, highlighting ongoing weakness in the industrial side of the economy that’s constraining U.S. growth.
Orders climbed 0.6 percent last month, the government said Wednesday. Economists surveyed by MarketWatch had forecast a 1.1 percent drop.
Yet if military hardware is stripped out, orders edged up just 0. percent.
Over the past year orders for all durable goods have fallen just under 1 percent, according to MarketWatch.
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