ECON: Aug Factory Orders Miss; September in line with Consensus
- Sep Factory Orders +1.7 vs +1.7 forecast
- August =0.1 vs +0.3 forecast
- Excluding Transportation, -0.2 in Sep, -0.4 Aug
- Market Reaction: perhaps none. If anything, it's been slightly positive for bond markets so far.
New orders for manufactured goods in September, up
following two consecutive monthly decreases, increased
$8.1 billion or 1.7 percent to $490.8 billion, the U.S.
Census Bureau reported today. This followed a 0.1
percent August decrease. Excluding transportation, new
orders decreased 0.2 percent.
Shipments, up four of the last five months, increased
$0.3 billion or 0.1 percent to $488.9 billion. This
followed a 0.2 percent August increase.
Unfilled orders, up seven of the last eight months,
increased $8.8 billion or 0.9 percent to $1,041.7 billion.
This was at the highest level since the series was first
published on a NAICS basis in 1992, and followed a 0.1
percent August increase. The unfilled orders-to-shipments
ratio was 6.39, up from 6.36 in August.
Inventories, up nine of the last ten months, increased
$2.7 billion or 0.4 percent to $634.0 billion. This was at
the highest level since the series was first published on a
NAICS basis and followed a 0.2 percent August
increase. The inventories-to-shipments ratio was 1.30,
up from 1.29 in August.