In September, new orders for U.S. manufactured goods decreased as anticipated by economists, according to a report from the Commerce Department released on Monday. The report details that factory orders declined by 0.5 percent, aligning with forecasts.
Additionally, the Commerce Department revised the August decline in factory orders to 0.8 percent, up from the previously reported 0.2 percent. September's decrease in factory orders was influenced by a 0.7 percent drop in durable goods orders and a slight 0.2 percent dip in non-durable goods orders.
The report further indicates that shipments of manufactured goods fell by 0.4 percent in September, following a 0.7 percent decrease in August. Inventory levels for manufactured goods also saw a decline of 0.2 percent in September, after a slight rise of 0.1 percent in the previous month.
Given the reductions in both inventories and shipments, the inventories-to-shipments ratio remained steady at 1.46 in September, unchanged from the previous month.
