US factory orders rise 1.2% in August, beating estimates

New orders for manufactured durable goods climb for 3rd time in last 4 months

By Ovunc Kutlu

ISTANBUL (AA) - US factory orders rose 1.2% in August, more than market estimates, according to Commerce Department figures released Wednesday.

New orders for manufactured goods rose $6.7 billion to reach $586.1 billion, up for the fifth time in the last six months.

Expectations for the figure, which measures the change in the value of new purchase orders placed with manufacturers, was to show a gain of 0.2%.

The figure posted a decline of 2.1% in July.

New orders for manufactured durable goods in August climbed $1.5 billion, or 0.5%, to $284.6 billion, rising for the third time in the past four months.

Transportation equipment, up after two consecutive monthly decreases, led the gain by rising $0.8 billion, or 0.9%, to reach $92.5 billion.

Kaynak:

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