The U.S. Commerce Department reported on Tuesday that the value of new factory orders climbed 1.9 percent m-o-m in September, following an unrevised 0.4 percent m-o-m advance in August. That marked the fifth consecutive month of gains in factory orders.

Economists had forecast a 0.5 percent m-o-m increase.

According to the report, orders for transportation equipment went up 4.1 percent and led the increase. Meanwhile, total factory orders excluding transportation, a volatile part of the overall reading, rose 0.8 percent m-o-m in September (compared to an upwardly revised 1.0 percent m-o-m jump in August), while orders for nondefense capital goods excluding aircraft, a measure of business spending plans, increased also 1.0 percent m-o-m (compared to an upwardly revised 2.1 percent m-o-m surge in the previous month).