US factory orders fall more than expected in October

(Sharecast News) - US new orders for manufactured goods fell more than expected in October after two consecutive monthly increases, according to official data published on Wednesday. New orders were down 1.3% month on month to $604.8bn, compared with consensus forecasts of a 1.2% decline and a revised increase of 0.2% in September, the US Census Bureau said.

Shipments, up following two consecutive monthly decreases, rose $0.5bn or 0.1% to $607bn. This followed a 0.1% September decrease.

Orders of manufactured durable goods decreased 2.2% to $307.3bn, while those of the nondurable goods were down by 0.4%, reaching $297.5bn.

Reporting by Frank Prenesti for Sharecast.com