A report released by the Commerce Department on Thursday showed a steep drop in new orders for U.S. manufactured goods in the month of October. The Commerce Department said factory orders tumbled by 2.
Source: www.rttnews.com
The U.S. Commerce Department released a report for manufactured goods, stating a steep drop in new orders for the month of October. Factory orders slumped by 2.1% in October after rising by a downwardly revised 0.2% in September. The consensus estimates were a slump by 2.0% compared to the 0.7% increase originally reported for the previous month. Durable goods orders plunged by 4.3% amid a 12% nosedive in orders for transportation equipment. Meanwhile, the report showed an increase of 0.3% for non-durable goods in the month of November.
