Forex Top Story
11/3/2009 10:21 AM ET
(RTTNews) -
Orders for manufactured goods increased by a little more than expected in the month of September, according to a report released by the Commerce Department on Tuesday, with the report also showing a notable increase in shipments.
The report showed that factory orders increased by 0.9 percent in September following an unrevised 0.8 percent decrease in August. The increase in orders came in slightly above economist estimates for an increase of about 0.8 percent.
A rebound in orders for manufactured durable goods contributed to the increase in factory orders, with orders for durable goods increasing by 1.4 percent in September after falling by 2.7 percent in August. The increase in durable goods orders was upwardly revised from the 1.0 percent growth reported last week.
Orders for machinery increased for the fifth time in six months, jumping 7.9 percent in September following a 1.3 percent increase in August.
The report also showed that orders for manufactured non-durable goods increased by 0.6 percent in September after rising by 0.9 percent in the previous month.
Excluding a 2.0 percent increase in orders for transportation equipment, the Commerce Department said that factory orders increased by 0.8 percent in September after edging up by 0.3 percent in August.
As mentioned above, the report also showed that shipments of manufactured goods increased by 0.8 percent in September following a 0.2 percent decrease in August. Shipments of durable goods rose by 1.1 percent, while shipments of non-durable goods increased by 0.6 percent.
The Commerce Department also said that inventories of manufactured goods fell for the thirteenth consecutive month, falling by 1.0 percent in September following a 0.9 percent drop in the previous month. This marks the longest streak of consecutive declines since February 2001-May 2002.
With shipments increasing and inventories decreasing, the inventories-to-shipments ratio edged down to 1.36 in September from 1.38 in August.
by RTT Staff Writer
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