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U.S. factory goods fell for a second straight month

Tuesday, Nov 03 2015
New orders for U.S. factory goods fell for a second straight month in September as the manufacturing sector continues to struggle under the weight of a strong dollar and deep spending cuts by energy companies. The Commerce Department said on Tuesday new orders for manufactured goods declined 1.0% after a downwardly revised 2.1 percent drop in August. Analysts were forecasting 0.8% decrease.
 
Factory activity, which accounts for about 12% of the economy, is also being constrained by efforts by businesses to reduce an inventory overhang and tepid global demand. But the worst could be over for the sector after a report on Monday showed new orders rose in October for the first time since July. Orders for transportation equipment fell 3.1% in September, largely reflecting a drop in aircraft orders. Motor vehicle production remains a bright spot in manufacturing, with orders for automobiles and parts rising 1.5% in September.
 
Data did not have any major impact on the markets. Euro is currently being traded few points above 1.0950 level, Sterling is around 1.5380 area, while Aussie is above 0.7160 level.
More in this category: « Number of unemployed in Spain rose by 82,327 Australian Retail Sales increased by 0.4% »

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