(RTTNews) – New orders for U.S. manufactured goods increased in line with economist estimates in the month of October, according to a report released by the Commerce Department on Thursday.
The Commerce Department said factory orders rose by 0.3 percent in October after falling by a revised 0.8 percent in September.
Economists had expected orders to rise by 0.3 percent compared to the 0.6 percent drop originally reported for the previous month.
Orders for durable goods climbed by 0.5 percent compared to the previously reported 0.6 percent increase, while orders for non-durable goods came in unchanged.
The report said shipments of manufactured goods were virtually unchanged in October after falling by 0.4 percent in September. Inventories crept up by 0.1 percent after rising by 0.3 percent in the previous month.
Subsequently, the Commerce Department said the inventories-to-shipments ratio in October was unchanged from the previous month at 1.40.
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