Afternoon Coffee: Durable Goods Orders Increase, Consumer Spending Flat in October

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Orders for durable goods rose 3% in October, the Commerce Department reported today. Commercial aircraft orders showed the largest growth last month, rising 81%.

Consumer spending “barely rose” in October, increasing just 0.1% from September. Consumers reportedly took advantage of saving opportunities during the month as incomes increased 0.4% last month.

Truck tonnage rose 1.9% last month, according to the latest monthly report from the American Trucking Association. The index reached 135.7, just below its all-time high of 135.8 in January.

Target managed to increase its inventory 4% overall in the third quarter, restocking some items by as much as 50%, something Target execs say is encouraging. Target Chief Financial Officer Cathy Smith said the company feels good about its inventory heading into the holidays.

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