US factory orders beat expectations in October

US factory orders rose slightly more than expected in October, official data showed on Thursday.

According to figures released by the Commerce Department, factory orders rose 1.5% in October compared with analysts’ expectations for a 1.4% gain and a 1% decline in the previous month.

Excluding the transportation sector, factory orders climbed 0.2%, in line with expectations and higher than the 0.6% decline registered in September.