US Factory Orders Climb More Than Expected In September

WASHINGTON (Alliance News) - New orders for US manufactured goods increased by more than expected ...

Alliance News 2 November, 2018 | 2:51PM
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WASHINGTON (Alliance News) - New orders for US manufactured goods increased by more than expected in the month of September, according to a report released by the Commerce Department on Friday.

The Commerce Department said factory orders climbed by 0.7% in September after spiking by an upwardly revised 2.6% in August.

Economists had expected factory orders to rise by 0.5% compared to the 2.3% jump originally reported for the previous month.

Durable goods orders increased by a downwardly revised 0.7% in September after soaring by 4.7% in August. Orders for transportation equipment led the way higher once again, surging up by 1.9%.

The report said orders for non-durable goods also rose by 0.6% in September, matching the increase seen in the previous month.

The Commerce Department also said shipments of manufactured goods increased by 0.9% in September after climbing by 0.7% in August.

Inventories of manufactured goods also rose by 0.5% in September following a revised 0.1% uptick in the previous month.

With shipments rising more than inventories, the inventories-to-shipments ratio dipped to 1.33 in September from 1.34 in August.

Copyright RTT News/dpa-AFX

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