U.S. Factory Orders Rose Solidly in August as Manufacturing Keeps Growing

Chemical plant

New orders for U.S. manufactured goods expanded in August, indicating sustained strength in manufacturing even as economic growth appeared to have slowed in Q3.

  • Factory orders increased 1.2% in August. Figures for July were revised higher to indicate orders increasing 0.7% in July rather than gaining 0.4% as initially anticipated. Factory orders rose up 18.0% on a year-on-year basis.
  • Manufacturing is being strongly promoted by the still-strong demand for goods irrespective of spending shifting back to services. Businesses are rebuilding their inventories underpinning activity at factories.
  • U.S. shipments of these so-called core capital goods rose by $0.3 billion or 0.1% to $508.3 billion. This followed a 1.5% July increase. Transportation equipment contributed to a decrease of $2.1 billion, declining to $73.4 billion.
  • Unfilled orders increased consecutively over the last seven months by 1.0$ or $11.9 billion to reach $1,239.4 billion after a 0.5% increase in July.

The inventories-to-shipments ratio steadied at 1.47 in August, from the same position in July. The unfilled orders-to-shipments ratio was 6.86, up from 6.81 in July.

DXY down -0.32%, EUR USD up +0.26%

Source: U.S. Department of Commerce


Eurozone Current Account Surplus Rose to €337 billion By 2nd Quarter of 2021

Previous article

Fibonacci Trading Strategy Forex: How to Use It?

Next article

You may also like


Leave a reply

Your email address will not be published.

More in News