US DATA: Factory new orders -5.2% in Aug, a smaller drop than expected,
but still the largest since Jan’09. Durable goods orders were unrev at
-13.2%, though the actual levels in July and Aug were revised down
slightly. Nondurables orders +2.2% in the month, led by petroleum and
coal products (+6.9%). Total factory orders ex. transportation were
+0.7% in Aug on the rise in nondur orders, transport still -34.9%,
durables ex. trans still -1.6%. Factory shipments 0.3%, while unfilled
orders -1.7% and inventories were +0.6%. Nondefense cap goods shipments
-1.6%, but -0.7% excluding civilian aircraft shipments. Overall, the
data suggest that mfg sector activity slowed in the month, due in large
part to a drop in aircraft, but also to weakness in other areas outside
of energy.