Durable goods orders up on transportation strength

New orders for long-lasting, manufactured goods in October increased $1 billion, or 0.4%, to $243.8 billion, the U.S. Census Bureau announced Wednesday.

The data is a key predictor of the economic health. Median forecasts from Action Economics' survey were for a decline of 0.6%.

The increase, after two monthly declines, came mainly on the strength of transportation equipment, which also was up after two down months.

Excluding transportation, new orders decreased 0.9%. And excluding defense, new orders decreased 0.6%.

Revised seasonally adjusted September figures for all manufacturing industries were:

• New orders, $500.3 billion, revised up from $499.4 billion;

• Shipments, $503.7 billion, up from previously reported $503.4 billion;

• nfilled orders, $1,169.1 billion, up from $1,168.7 billion;

• Total inventories, $655.5 billion, from $655.2 billion.