WASHINGTON — New factory orders for manufactured goods unexpectedly declined 0.8% in August, the Commerce Department reported today.
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Orders declined for the first time since March. Orders excluding transportation goods rose 0.4% for the month. July factory orders were revised higher to a 1.4% rise from the 1.3% increase originally reported.
Economists estimated factory orders would rise 0.7% in September, according to the median estimate from Thomson Reuters.
Factory inventories declined 0.8% and have fallen for 12 consecutive months.
Total orders were down 19.6% in August from a year ago.
