–August Durables Goods New Orders Revised Down To -1.5%
By Kevin Kastner
WASHINGTON (MNI) – The value of new factory orders fell 0.5% in
August on an already-announced drop in transportation orders, partially
offset by gains in other durable goods categories and a modest rise in
nondurables goods orders, data released by the Commerce Department
Monday morning showed.
Analysts in a Market News International survey had expected factory
new orders to fall only 0.3% in August.
Durable goods orders were revised down to a 1.5% decline for the
month from the original 1.3% decline reported earlier, while nondurable
goods orders rose only 0.3%, keeping the overall factory orders gain
below expectations.
Chemical products shipments, which are equivalent to new orders in
this data, rose 0.7% in August. Petroleum and coal products shipments
rose 0.2%
Factory orders excluding transportation rose 0.9%, the largest
monthly rise since March 2010, an indication of the strength in other
components.
Transportation orders fell 10.2%, the largest drop since March, but
smaller than the originally reported 10.3% decline for August.
Overall factory shipments fell 0.6% in August, with nondefense
capital goods shipments excluding aircraft down 0.3%. However, when
aircraft orders were excluded, this measure of shipments rose 1.7%.
Factory inventories rose only 0.1% in August, while unfilled orders
were statistically unchanged for the second straight month.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDS$,MT$$$$,M$U$$$,MAUDR$]
