US September factory orders up 1.8%... third straight month of increase

U.S. factory orders rose 1.8% in September to $677.2 billion, marking a third consecutive monthly increase after a 0.3% gain in August, the Census Bureau reported. The report covers total manufacturing orders including nondurable goods, alongside shipments, backlogs and inventories. Transportation equipment orders jumped 4.6%, reversing a 0.2% decline in August, while nondefense aircraft and parts orders surged 28.3% following gains of 0.3% in August and 12.0% in July; motor vehicle bodies, parts and trailers edged up 0.1%. The data signals sustained demand in the U.S. manufacturing sector despite elevated borrowing costs. Investors will watch whether the momentum carries into fourth-quarter durable goods and core capital goods orders for confirmation of industrial strength.