US factory orders unexpectedly edge up in August
by ChemOrbis Editorial Team - content@chemorbis.com
According to data released by the US Commerce Department, the country’s factory orders edged up 0.2% in August contrary to economists’ expectations which called for a decrease of 0.1% in a survey conducted by Reuters. This followed a downwardly revised increase of 1.4% in July and was the second straight month of increases.
The data also showed that orders for non-defense capital goods excluding aircraft increased 0.9% while core capital goods shipments slipped 0.1% in August.
The recent figures suggested that the country’s manufacturing sector is beginning to regain some ground after manufacturing activities in the US had been weakened by sluggish global demand and strong dollar.
The data also showed that orders for non-defense capital goods excluding aircraft increased 0.9% while core capital goods shipments slipped 0.1% in August.
The recent figures suggested that the country’s manufacturing sector is beginning to regain some ground after manufacturing activities in the US had been weakened by sluggish global demand and strong dollar.
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