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US factory orders slow at faster pace than expected in August

by ChemOrbis Editorial Team -
  • 05/10/2015 (16:53)
According to data released by the US Commerce Department, US factory orders declined at a faster pace than expected in August. Factory orders fell 1.7% after posting a downwardly revised increase of 0.2% in the previous month. Economists’ initial expectations called for a decrease of 1.3% in August.

The decline was attributed to weaker orders for durable goods, which declined 2.3% in August following a gain of 1.9% in July. The data also showed that orders for transportation equipment plunged 6.2% while orders for non-durable goods fell 1.1% in August after decreasing 1.4% in the previous month.
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