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US factory orders climb by 0.7% in September

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Dion Global

05 Nov 2018

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

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

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

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

Inventories of manufactured goods also rose by 0.5 percent in September following a revised 0.1 percent 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.