Factory orders reverse trend
New orders for manufactured U.S. goods fell in August, after four consecutive months of increases, the U.S. Census Bureau reported Friday.
New orders fell 0.8 percent, of $2.8 billion, to $352.9 billion, following a 0.3 percent increase in July, the bureau said.
Unfilled orders, down 11 consecutive months, dropped 0.4 percent to $736.8 billion. Shipments of durable goods also fell, down 1.4 percent to $171.3 billion after two consecutive months of increases. Non-durable goods shipments increased 0.8 percent to $188.7 billion, following a 1.5 percent decrease in July.
Inventories dropped 1.4 percent to $308.4 billion.
The report is not seen as highly influential in day-to-day market movement, but will be seen by economists as more evidence the economic recovery has flattened.