US factory orders fall for second straight month in Sept
The decline was attributed to weaker orders for durable goods, which declined at a slower pace of 1.2% in September following a drop of 2.9% in August. The data also showed that orders for transportation equipment slid 3.1% while orders for non-durable goods fell 0.8% in September after decreasing 1.3% in the previous month.
The Commerce Department also reported that shipments of manufactured goods edged down 0.4% after a decrease of 0.9% in August.
For October, meanwhile, a report released by the Institute for Supply Management showed that a US manufacturing index slipped to the lowest levels seen since May 2013. Some economists cited a strong dollar and lower oil prices, which have weakened major oil companies’ spending activities, as the main reasons behind weaker manufacturing activities.
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