US factory orders rise 2.1 pct in September

WASHINGTON, Nov 3 (BestGrowthStock) – New orders received by U.S.
factories rose more-than-expected in September to post their
largest gain in eight months, according to a report on
Wednesday that offered more evidence manufacturing continued to
expand.

The Commerce Department said orders for manufactured goods
increased 2.1 percent after being flat in August.

Economists polled by Reuters had forecast factory orders
rebounding 1.6 percent in September from a previously reported
0.5 percent fall in August.

There have been fears that manufacturing, which is leading
the economy’s sluggish recovery from its longest recession
since the 1930s, was slowing sharply, but these concerns
continue to be allayed by both regional and national factory
surveys.

Data this week showed the Institute for Supply Management’s
index of national factory activity rose in October to its
highest level since May.

In September, orders excluding transportation rose 0.4
percent after a 1.3 percent increase in August, the Commerce
Department said.

But orders for non-defense capital goods excluding
aircraft, seen as a measure of business confidence, slipped 0.2
percent after increasing 5.1 percent in August.

Unfilled orders at U.S. factories increased 1.0 percent in
September, the largest rise since March 2008, after a 0.2
percent gain in August.

Shipments rose 0.4 percent in September after a small
decline in August, while inventories for manufactured durable
goods were up for the ninth successive month. That left the
inventories-to-shipment ratio, a measure of how long it would
take to deplete current stocks, unchanged at 1.27 months’
worth.

The department revised durable goods orders for September
to show a 3.5 percent increase rather than the previously
reported 3.3 percent gain.

Excluding transportation, orders for durable goods fell a
smaller 0.4 percent in September instead of 0.8 percent.
(Reporting by Lucia Mutikani; Editing by Andrea Ricci)

US factory orders rise 2.1 pct in September