WASHINGTON — New factory orders for manufactured goods increased 0.9% in September, the fifth increase in the last six months, the Commerce Department reported today.
Orders excluding transportation rose 0.8% and durable goods increased 1.4%. Orders for machinery goods rose 7.9%, the largest increase since March 2008.
Economists expected factory orders to rise 0.8% in September, according to the median estimate provided by Thomson Reuters.
Unfilled orders fell 0.4% in September for a record twelfth consecutive monthly decline. Records for the series began in 1992.
Inventories fell 1.0% for the thirteenth consecutive month, the longest streak since February 2001 to May 2002. The inventories-to-shipments ratio declined to 1.36 from 1.38 in August.
New orders declined 0.8% in August, unchanged from the initial report last month, as orders excluding transportation goods rose 0.3%, revised down from 0.4%.
Total orders were down 21.7% in September from a year ago.
