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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