Tue, Oct 15, 2024 | Rabi al-Thani 11, 1446 | DXB ktweather icon30°C

US August factory orders fall 3.3 percent

WASHINGTON - New orders at US factories fell a bigger-than-expected 3.3 percent in August, the largest decline since January, on big drops in aircraft and auto orders, a government report released on Thursday showed.

Published: Thu 4 Oct 2007, 9:05 PM

Updated: Sat 4 Apr 2015, 11:24 PM

  • By
  • (Reuters)

Analysts polled by Reuters were expecting factory orders to slip 2.6 percent.

Orders were dragged down by a 39.9 percent tumble in the volatile non-defense aircraft category, and an 8.5 percent plunge in automotive orders, the sharpest decline in that category since December 2002, the Commerce Department said. Orders for all types of transportation equipment slid 11.1 percent.

However, even when transportation orders were stripped out, factory orders dipped 1.7 percent, the second decline in three months. Excluding defense products, orders slipped 3.8 percent.

Orders for non-defense capital goods excluding aircraft, viewed as a reliable indicator of business investment, fell 0.5 percent, a slimmer drop than originally reported.


Next Story