FX.co ★ U.S. Factory Orders Rise In Line With Estimates In October

The Commerce Department published its latest report on Wednesday, detailing a slight uptick in new orders for U.S. manufactured goods for the month of October. According to the report, there was a 0.2% increase in factory orders following a revised decline of 0.2% in September. This matched economists' expectations, who had predicted a 0.2% rise, in contrast to the initially reported 0.5% decrease for September.

Breaking it down further, the modest rise in factory orders was driven by a 0.3% increase in durable goods orders, while non-durable goods saw a marginal increase of 0.1%. However, shipments of manufactured goods recorded a 0.2% decrease in October, continuing a downward trend from a 0.4% drop the previous month.

Inventories also experienced a slight reduction, decreasing by 0.1% in October after a 0.3% decline in September. Consequently, the inventories-to-shipments ratio remained steady at 1.46, unchanged from the prior month.