New factory orders for manufactured goods slumped 5.1% in October, the Commerce Department announced yesterday.
The factory order decrease, to $407.370 billion, was larger than the 2.8% decrease projected by Thomson Reuters and came after a revised 3.1% decrease to $429.286 billion in September, originally reported as a 2.5% decline to $431.989 billion.
Excluding transportation, the level of all new manufacturing orders fell 4.2% to about $358.7 billion in October following a 4.3% drop in September to $374.5 billion, originally reported as a 3.3% slip to $376.7 billion.
Excluding military orders, new orders slid 4.3% to $395.7 billion following a 4.0% drop to $413.6 billion in September, originally reported as a 3.3% decrease to $416.7 billion.
