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US business investment showing best gain in 14 months

SPX News by Newsroom on 11:11 November 03, 2017 EST

US factory orders up 1.4 percent in September, with business investment showing best gain in 14 months.

The September advance followed a 1.2 percent gain in August, the Commerce Department reported Friday.

The increase was driven by a 30.8 percent jump in demand for commercial aircraft a very volatile, non seasonable, order book.

Demand for durable goods rose 2 percent in September. That was a slightly smaller gain than the 2.2 percent estimate while Orders for nondurable goods rose 0.8 percent last month, up from a 0.4 percent increase in August.

The US economy grew at a 3 percent rate in the July to September quarter following a 3.1 percent GDP rise in the preceding quarter.