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- U.S. factory orders decline more than forecast in September
U.S. factory orders decline more than forecast in September
The U.S.
Commerce Department reported on Thursday that the value of new factory orders fell
0.6 percent m-o-m in September, following an unrevised 0.2 percent m-o-m decrease
in August. That was the largest monthly drop in industrial orders since May.
Economists had
forecast a 0.5 percent m-o-m decline.
According to
the report, orders for transportation equipment declined 2.8 percent m-o-m in September
after growing 0.2 percent m-o-m in August. Orders for computers and electronic
products fell 1.2 percent m-o-m, while orders for electrical equipment,
appliances and components increased 0.7 percent m-o-m and machinery orders went
up 0.2 percent m-o-m.
Total factory
orders excluding transportation, a volatile part of the overall reading, edged
down 0.1 percent m-o-m in September (compared to a downwardly revised 0.2
percent m-o-m fall in August), while orders for nondefense capital goods
excluding aircraft, a measure of business spending plans, decreased 0.6 percent
m-o-m (compared to a 0.5 percent m-o-m decline in August). The report also
showed that shipments of core capital goods plunged 0.7 percent m-o-m in September,
the same as previously reported.
In y-o-y terms,
factory orders decreased 0.3 percent in September.
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