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The U.S. Commerce Department released factory orders data on Thursday. Factory orders in the U.S. climbed 1.5% in October, exceeding expectations for a 1.4% rise, after a 0.8% drop in September. September's figure was revised up from a 1.0% fall.
The increase was partly driven by higher demand for transportation equipment, which jumped 7.9% in October.
Durable goods orders increased by 2.9% in October, while orders for nondurable goods were flat.
Factory orders excluding transportation rose 0.2% in October, after a 0.6% decline in September.
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