12/4/2023, 4:00 PM (Source: TeleTrader)
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US factory orders down by 3.6% in October

New orders for manufactured goods in the United States observed a monthly decrease of 3.6% or $21.8 billion to come in at $576.8 billion in October, landing lower than analysts predicted, the Census Bureau said in its report published on Monday.

Shipments fell by 1.4% or $8.2 billion compared to the previous month to stand at $577.8 billion. Unfilled orders increased by 0.3% or $4 billion to $1.3 trillion. Inventories grew by 0.1% or $0.5 billion month-on-month to reach $857 billion. The inventories-to-shipments ratio came in at 1.48, up from September's and August's 1.46.

Meanwhile, new orders for manufactured durable goods declined by 5.4% or $15.9 billion to $279.4 billion.

Baha Breaking News (BBN) / RR