The U.S.
Commerce Department announced on Thursday that the value of new factory orders dropped
by 0.5 per cent m-o-m in September, following a downwardly unrevised 0.8 per cent m-o-m decline (from -0.2 per
cent m-o-m) in August.
Economists had expected
a fall of 0.4 per cent m-o-m for September.
According to
the report, orders for durable goods declined by 0.7 per cent m-o-m in September, while orders for nondurable goods fell by 0.2 per cent
m-o-m.
Total factory
orders excluding transportation, a volatile part of the overall reading, edged
up 0.1 per cent m-o-m (compared to a downwardly revised 0.2 per cent m-o-m decrease (from -0.1 per cent m-o-m) in
August), while orders for nondefense capital goods excluding aircraft, a
measure of business spending plans, increased by 0.7 per cent m-o-m (compared to a 0.2 per cent m-o-m gain
in August and instead of rising 0.5 per cent m-o-m
as reported last month).