US factory orders surge in September

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US factory orders surge in September
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299 Queen Street West and the golden era of MuchMusic | SaltWireWASHINGTON - New orders for U.S.-made goods increased more than expected in September, boosted by strong demand for computers and electronic products among others, but higher borrowing costs remain a challenge for manufacturing.

Spending on goods surged in the third quarter, keeping a floor under manufacturing. But the sector, which accounts for 11.1% of the economy, remains constrained by higher interest rates. Orders for computers and electronic products rose a solid 1.0%. Orders of electrical equipment, appliances and components gained 1.0%. Machinery orders increased 0.7%.

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