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

U.S. Factory Orders Rise In Line With Estimates In October

12/04/2024 - 10:38:00 (RTTNews)

(RTTNews) - The Commerce Department released a report on Wednesday showing a modest increase by new orders for U.S. manufactured goods in the month of October.

The report said factory orders rose by 0.2 percent in October after dipping by a revised 0.2 percent in September.

Economists had expected factory orders to rise by 0.2 percent compared to the 0.5 percent decrease originally reported for the previous month.

The modest increase by factory orders came as orders for durable goods climbed by 0.3 percent, while orders for non-durable goods inched up by 0.1 percent.

Meanwhile, the report said shipments of manufactured goods slipped by 0.2 percent in October after falling by 0.4 percent in September.

Inventories of manufactured goods also edged down by 0.1 percent in October after dipping by 0.3 percent in September.

With inventories and shipments both declining, the inventories-to-shipments ratio came in unchanged from the previous month at 1.46.

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