Updated: 03-Oct-24 10:35 ET
| August Factory Orders |
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| Updated: 03-Oct-24 10:35 ET |
Highlights
- Factory orders decreased 0.2% month-over-month in August (Briefing.com consensus 0.1%) following a downwardly revised 4.9% increase (from 5.0%) in July.
- Excluding transportation, factory orders decreased 0.1% on the heels of a 0.3% increase in July.
- Shipments of manufactured goods fell 0.5% in August following a 0.8% increase in July.
Key Factors
- Durable goods orders were flat following a 9.8% increase in July.
- New orders for nondurable goods were down 0.5% after being up 0.6% in July.
- New orders for nondefense capital goods excluding aircraft-a proxy for business spending- increased 0.3% after declining 0.3% in July.
- The inventory-to-shipments ratio rose to 1.46 from 1.45.
Big Picture
- The key takeaway from the report is that business spending rebounded in August.
| Category | AUG | JUL | JUN | MAY | APR |
| Factory Orders | -0.2% | 4.9% | -3.3% | -0.5% | 0.4% |
| Less Defense | -0.4% | 4.9% | -3.5% | -0.6% | 0.0% |
| Durable Goods | 0.0% | 9.8% | -6.9% | 0.1% | 0.2% |
| Nondurable Goods | -0.5% | 0.6% | 0.0% | -1.0% | 0.5% |
| Unfilled Factory Orders | 0.4% | 0.2% | -1.4% | 0.2% | 0.1% |
| Factory Shipments | -0.5% | 0.8% | 0.6% | -0.7% | 0.8% |
| Factory Inventories | 0.1% | 0.0% | -0.1% | 0.1% | 0.1% |
| Inventory/Shipment Ratio | 1.46 | 1.45 | 1.46 | 1.47 | 1.46 |
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