US Factory Orders Edge Up 0.1% in August, Second Straight Gain
New orders for manufactured goods rose $0.7 billion in August, marking a second consecutive monthly increase to $663.5 billion.
New orders for manufactured goods climbed modestly in August, rising $0.7 billion, or 0.1 percent, to reach $663.5 billion, according to data released by the U.S. Census Bureau. The gain extended a two-month streak of growth in factory demand, a signal that manufacturing activity has maintained at least a modest upward trajectory heading into the fall.
The August advance followed a stronger revised gain of 0.8 percent in July, suggesting some deceleration in the pace of order growth even as the headline direction remained positive. Back-to-back monthly increases in new orders are generally viewed by analysts as an early indicator of sustained production activity in the months ahead, though a single-digit percentage gain leaves limited room for optimism about a robust manufacturing rebound.
Read more US Job Growth Stalls at 29,000 in September, Unemployment Holds at 4.2% →
The Census Bureau's Manufacturers' Shipments, Inventories, and Orders report tracks the flow of demand across durable and nondurable goods sectors, offering a broad snapshot of industrial health. Sustained order growth, even at a tepid pace, can support factory employment and supply-chain planning decisions across multiple industries.
Continue reading at U.S. Census Bureau Economic Briefing Room.
