US factory orders and durable goods slip in October
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%.
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