US factory orders for the month of August 2019
- US factory orders come in a little better-than-expected at -0.1% versus 0.2% estimates. The prior month came in at 1.4%
- factory orders ex transportation came in at 0.0% versus 0.2% revised last month. The prior report showed a 0.3% gain (revision lower this month)
- durable goods orders for August final rose 0.2% which was as expected (and on par with the preliminary report)
- durable goods ex transportation also came in on par with the preliminary report at 0.5%
- durable goods Goods orders NonDefense Ex air fell -0.4% versus -0.2%. This is a measure of business investment
- Durable goods shipments nondefense ex air +0.3% versus +0.4%
The overall factory orders are a touch better than expected but still down on the month. Durable goods are mixed with gains on the headline numbers, but business investment remain sluggish.
