Factory Orders Jump 4.9 Percent In August
Factory orders for expensive, long-lasting goods rose more rapidly in August than they had in a year, rekindling talk of a resurgent economy.
The Commerce Department said Wednesday that durable-goods orders shot up 4.9 percent last month after two straight declines. The increase was the largest since orders soared 6.5 percent in August 1994.
Volatile orders for autos accounted for about half the surge in durable-goods orders last month.
Orders also were up strongly for industrial equipment, primary metals and military goods. Electronic equipment was the only major category that fell.