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- U.S. factory orders increase more than anticipated in August
U.S. factory orders increase more than anticipated in August
The
U.S. Commerce Department reported on Monday that the value of new factory
orders jumped 1.2 percent m-o-m in August, following a revised 0.7 percent
m-o-m increase in July (originally a 0.4 percent m-o-m advance).
Economists
had forecast a 1.0 percent m-o-m jump.
According to the report, orders for transport equipment (+5.4 percent m-o-m) recorded the biggest gain in August. Meanwhile, total factory orders excluding transportation, a volatile part of the overall reading, went up 0.5 percent m-o-m (compared to an upwardly revised 0.9 percent m-o-m climb in July), while orders for nondefense capital goods excluding aircraft, a measure of business spending plans, increased 0.6 percent m-o-m instead of growing 0.5 percent m-o-m as reported last month.
Overall,
durable goods orders climbed 1.8 percent m-o-m in August, while orders for
nondurable goods rose 0.6 percent m-o-m.
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