By Maria Martinez
Manufacturing orders in the U.S. were virtually unchanged in August, following a decline in the previous month, reflecting cooler demand for goods as the economy slows.
New orders for manufactured goods stayed unchanged from the previous month at $548.4 billion, according to data from the Commerce Department published Tuesday. This follows a 1% decline in July.
Economists polled by The Wall Street Journal expected factory orders to remain unchanged from the previous month.
New orders for manufactured durable goods–those meant to last at least three years–decreased by a marginal 0.2% in August, after falling 0.1% in July. Transportation equipment, also down two consecutive months, drove the decrease.
Write to Maria Martinez at [email protected]
(END) Dow Jones Newswires
10-04-22 1026ET
