US factory orders fall in October

New orders for US manufactured goods fell for the first time in four months in October under pressure from weak demand for durable goods, the government said Friday.

Factory orders dropped 0.9 percent from September, while orders for durable goods -- big-ticket items such as aircraft, cars and computers -- tumbled 3.4 percent, the Commerce Department said.

The report was better than expected, with most analysts forecasting orders fell 1.3 percent.

September orders were revised up to 3.0 percent, sharply higher than the 2.1 percent initially estimated.

Excluding the transportation sector, which can be volatile, factory orders slipped only 0.2 percent in October.

Read Full Article from AFP

- Posted: 2010-12-03 12:14:38

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