WASHINGTON - The following are the five key points from the October factory orders report released by the Commerce Department Monday:
Factory orders were down 0.1%, a smaller decline than the expected 0.3% decline, with durable goods orders revised up to a more modest 0.8% decline and nondurable goods orders were up 0.7% on petroleum and coal and chemical products.
Factory orders ex-transportation were up 0.8%, suggesting underlying growth in new orders.
Nondefense capital goods new orders were down 3.7% in the month, but was up 0.3% excluding civilian aircraft.
Total factory shipments were up 0.6% in October, with nondefense capital goods shipments down 1.2% and up 1.1% excluding civilian aircraft.
Factory inventories rose 0.2%, so combined with the advance estimates for retail (-0.1%) and wholesale inventories (-0.4%), this would result in a 0.1% decline for business inventories.
