The U.S.
Commerce Department reported on Thursday that the value of new factory orders slipped
by 0.2 per cent m-o-m in August, following a downwardly
revised 4.9 per cent m-o-m surge (from +5.0 per cent m-o-m) in July.
Economists had forecast
no change m-o-m for August.
According to
the report, orders for durable goods were flat m-o-m in August, while orders for nondurable goods fell by 0.5 per cent m-o-m.
Total factory
orders excluding transportation, a volatile part of the overall reading, edged
down 0.1 per cent m-o-m (compared to a downwardly revised 0.3 per cent m-o-m gain (from +0.4 per cent m-o-m) in
July), while orders for nondefense capital goods excluding aircraft, a measure
of business spending plans, increased 0.3 per cent m-o-m (compared to a 0.3 per cent m-o-m decline in July and instead of rising 0.2 per cent m-o-m as reported
last month).