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- U.S. factory orders decrease less than forecast in August
U.S. factory orders decrease less than forecast in August
The U.S.
Commerce Department reported on Thursday that the value of new factory orders edged
down 0.1 percent m-o-m in August, following an unrevised 1.4 percent m-o-m gain
in July.
Economists had
forecast a 0.2 percent m-o-m drop.
According to
the report, orders for transportation equipment declined 0.4 percent m-o-m in August
after surging 7.3 percent m-o-m in July. There were also drops in orders for
computers and electronic products and electrical equipment, appliances and
components. Meanwhile, machinery orders grew 0.4 percent m-o-m in August after falling
1.0 percent m-o-m in July.
Total factory
orders excluding transportation, a volatile part of the overall reading, were
unchanged m-o-m in August (compared to a downwardly revised 0.2 percent m-o-m advance
in July), while orders for nondefense capital goods excluding aircraft, a measure
of business spending plans, decreased 0.4 percent m-o-m (compared to a 0.2
percent m-o-m decline in July). The report also showed that shipments of core
capital goods increased 0.3 percent m-o-m in August, following a 0.4 percent m-o-m
climb in July.
In y-o-y terms,
factory orders decreased 0.1 percent in August.
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