Updated: 04-Nov-24 10:23 ET
| September Factory Orders |
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| Updated: 04-Nov-24 10:23 ET |
Highlights
- Factory orders declined 0.5% month-over-month in September (Briefing.com consensus -0.4%) following a downwardly revised 0.8% decline (from -0.2%) in August.
- Excluding transportation, factory orders rose 0.1% on the heels of a 0.2% decline in August.
- Shipments of manufactured goods fell 0.4% in September following a 0.7% decline in August.
Key Factors
- Durable goods orders were down 0.7% following a 0.9% decline in August.
- New orders for nondurable goods dropped 0.2% following a 0.7% decline in August.
- New orders for nondefense capital goods excluding aircraft-a proxy for business spending- increased 0.7% on the heels of a 0.2% increase in August.
- The inventory-to-shipments ratio held steady at 1.46.
Big Picture
- The key takeaway from the report is that transportation equipment orders (-3.1%), led by weakness in nondefense aircraft and parts orders (-22.7%) and defense aircraft and parts orders (-23.7%), were the primary basis for the decline in factory orders in September.
| Category | SEP | AUG | JUL | JUN | MAY |
| Factory Orders | -0.5% | -0.8% | 4.9% | -3.3% | -0.5% |
| Less Defense | -0.6% | -1.0% | 4.9% | -3.5% | -0.6% |
| Durable Goods | -0.7% | -0.9% | 9.8% | -6.9% | 0.1% |
| Nondurable Goods | -0.2% | -0.7% | 0.6% | 0.0% | -1.0% |
| Unfilled Factory Orders | 0.2% | 0.2% | 0.2% | -1.4% | 0.2% |
| Factory Shipments | -0.4% | -0.7% | 0.8% | 0.6% | -0.7% |
| Factory Inventories | -0.2% | 0.1% | 0.0% | -0.1% | 0.1% |
| Inventory/Shipment Ratio | 1.46 | 1.46 | 1.45 | 1.46 | 1.47 |
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