Financial News: U.S. Factory Orders Decrease In Line With Estimates

U.S. Factory Orders Decrease In Line With Estimates In September

11/04/2024 - 10:34:00 (RTTNews)

(RTTNews) - New orders for U.S. manufactured goods declined in line with economist estimates in the month of September, according to a report released by the Commerce Department on Monday.

The Commerce Department said factory orders fell by 0.5 percent in September, matching expectations.

However, the report said the decrease in factory orders in August was revised to 0.8 percent from the previously reported 0.2 percent.

The decline by factory orders in September came as orders for durable goods slid by 0.7 percent, while orders for non-durable goods edged down by 0.2 percent.

The Commerce Department also said shipments of manufactured goods decreased by 0.4 percent in September after falling by 0.7 percent in August.

Inventories of manufactured goods also dipped by 0.2 percent in September after inching up by 0.1 percent in the previous month.

With inventories and shipments both falling, the inventories-to-shipments ratio was 1.46 in September, unchanged from August.

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