US factory orders dip 2.1% in October

Economy 12/6/2018, 4:00 PM
US factory orders dip 2.1% in October

New orders for manufactured goods in the United States decreased by 2.1% in October to $502.7 billion, the US Census Bureau reported on Thursday.

Unfilled orders declined $1.7 billion to $1.2 trillion following eight consecutive monthly increases. Meanwhile, the ratio between unfilled orders to shipments was 6.70, up from the 6.65 recorded in September. Inventories grew by $0.9 billion or 0.1% to $681.7 billion. The inventories-to-shipments ratio remained unchanged compared to the previous month at 1.34, according to the report.

Breaking the News / JC