US: Factory orders rise 2.3% in August vs 2.1% expected

"New orders for manufactured goods in August, up three of the last four months, increased $11.5 billion or 2.3 percent to $510.5 billion," the U.S. Census Bureau reported on Thursday.

Key takeaways from the press release

  • This followed a 0.5 percent July decrease. Shipments, up fifteen of the last sixteen months, increased $2.3 billion or 0.5 percent to $504.0 billion.
  • The unfilled orders-to-shipments ratio was 6.68, down from 6.72 in July.
  • Inventories, down following twentyone consecutive monthly increases, decreased $0.5 billion or 0.1 percent to $675.6 billion. 
  • New orders for manufactured durable goods in August, up two of the last three months, increased $11.0 billion or 4.4 percent to $259.6 billion, down from the previously published 4.5 percent increase.

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