financetom
Economy
financetom
/
Economy
/
US factory orders rise marginally in October
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US factory orders rise marginally in October
Dec 4, 2024 7:44 AM

WASHINGTON (Reuters) - New orders for U.S.-manufactured goods rebounded marginally in October while business spending on equipment appeared to have softened early in the fourth quarter.

Factory orders increased 0.2% after a revised 0.2% fall in September, the Commerce Department's Census Bureau said on Wednesday. Economists polled by Reuters had forecast factory orders would rebound 0.2% after a previously reported 0.5% decline in September. Factory orders rose 0.4% on a year-on-year basis in October.

The government also reported that orders for non-defense capital goods excluding aircraft, which are seen as a measure of business spending plans on equipment, fell 0.2% in October, as initially reported. Shipments of core capital goods increased 0.3% instead of rising 0.2%, as estimated last month. 

Nondefense capital goods orders increased 1.5% instead of 1.4%, as initially reported. Shipments of those goods declined 1.8% rather than by the initially estimated 1.9%. Weak shipments suggest softer business investment in equipment in the fourth quarter after two straight quarters of strong growth.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Supply still matters: Why US housing inflation relief may be short-lived
Supply still matters: Why US housing inflation relief may be short-lived
Mar 5, 2024
WASHINGTON (Reuters) - U.S. Federal Reserve officials say they are confident housing inflation will finally cool in coming months, a key and long-awaited component of their effort to control overall price increases and secure their turn to interest rate cuts. The real challenge on that front, however, may be just over the horizon when a pipeline of new apartments starts...
Hong Kong scraps property tightening measures to boost economic recovery
Hong Kong scraps property tightening measures to boost economic recovery
Mar 5, 2024
HONG KONG (Reuters) -Hong Kong announced major measures on Wednesday to bolster its flagging real estate market by scrapping all tightening measures for residential properties, aimed at helping the city's economy which is expected to grow at a tepid 2.5%-3.5% this year. The financial hub will cancel all additional stamp duties on transactions imposed in the past decade in a...
Federal Reserve Watch for Feb. 27: FOMC Not at Point Yet to Cut Rates, Fed Governor Bowman Says
Federal Reserve Watch for Feb. 27: FOMC Not at Point Yet to Cut Rates, Fed Governor Bowman Says
Mar 5, 2024
03:02 PM EST, 02/27/2024 (MT Newswires) -- Fed Governor Michelle Bowman (voter) said she will remain cautious in considering future monetary policy changed and noted that it will eventually become appropriate to lower the policy rate. However, Bowman said that the Federal Open Market Committee is not at that point yet and that cutting rates too soon could require future...
February Mid-Atlantic Manufacturing Contraction Narrows More Than Expected, Richmond Fed Says
February Mid-Atlantic Manufacturing Contraction Narrows More Than Expected, Richmond Fed Says
Mar 5, 2024
04:00 PM EST, 02/27/2024 (MT Newswires) -- Manufacturing activity in the Mid-Atlantic region improved into shallower contraction territory than anticipated this month as orders and employment rose notably, the Federal Reserve Bank of Richmond said Tuesday. The composite index came in at negative 5 in February from negative 15 in January. The consensus was for an improvement to negative 9,...
Copyright 2023-2025 - www.financetom.com All Rights Reserved