US factory orders and durable goods slip in October
by ChemOrbis Editorial Team - content@chemorbis.com
According to data released by the US Commerce Department, the country’s factory orders edged slightly down by 0.1% to $479.6 billion in October after an increase of 1.7% in September.
The decrease in factory orders was mostly attributed to a decline in durable goods, which offset a 0.7% increase in non-durable goods orders. Accordingly, the country’s new orders for durable goods decreased to $237.4 billion from 2.4% increase in September.
Meanwhile, shipments and inventories of manufactured goods edged up in October by 0.6% while inventories-to-shipments ratio remained unchanged from September at 1.37%.
The decrease in factory orders was mostly attributed to a decline in durable goods, which offset a 0.7% increase in non-durable goods orders. Accordingly, the country’s new orders for durable goods decreased to $237.4 billion from 2.4% increase in September.
Meanwhile, shipments and inventories of manufactured goods edged up in October by 0.6% while inventories-to-shipments ratio remained unchanged from September at 1.37%.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Expectations soften for PP raffia, fibre yet to follow in Turkey
- Will PE supplies from China flock to SEA?
- LDPE, LLDPE highest since Q3 2018; HDPE at 6-month high in Europe
- Intensifying trade war adds to bearishness in China’s local PP, PE markets
- PET prices hit multi-month lows in Asia and Europe
- Rising momentum fizzles out in European PS, ABS markets
- European PVC offers to Turkey shrug off higher costs
- Asian PVC players hold firm expectations for June
- May PP, PE offers to Mid-East, Africa remain stable to firm
- Global energy producers report lower Q1 results amid volatile crude prices
