Wed, Nov 5 2008, 08:44 GMT
by KBC Market Research Desk
The bad news show continued: factory orders fell by 2.5% M/M in September, following a downwardly revised 4.3% M/M plunge in August. The outcome was substantially below expectations, due to a steep 5.5% M/M decline in non-durable goods orders (partly due to lower petroleum and coal prices). Durable orders, already released last week were little changed at -0.9% M/M. Shipments fell 2.8% MM, after a 3.7% M/M decline in August. Non-defence capital goods shipments less aircraft rose by 2% M/M after declining 2.1% in August. The report points to sluggishness in the manufacturing sector, similar to the story told by reports like the ISM.
Published on Wed, Nov 5 2008, 12:22 GMT
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