US factory orders falter in September, core capital goods revised down

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US factory orders falter in September, core capital goods revised down

On Monday, the 4th of November 2019, the US Commerce Department had revealed a basket of baleful economic data including a faltering US factory orders last month alongside a persistent downward spiral in business spending, supporting the cause of US Federal Reserve’s October rate-cut to sustain a decade-long expansion on record of the US economy entering into its straight 124th month of gain in a row amid a slowdown debacle on a majority of big-league economies.

Besides, following release of another set of dismal data from US Commerce Department on Monday (November 4th), several analysts were quoted saying that a sharp fall in new orders last month for US-made goods ahead of a holiday sales season alongside a weaker-than-anticipated business spending, had been indicating further holocaust on a slowing US economy amid a protracted Sino-US trade war.

Meanwhile, according to US Commerce Department’s Monday (November 4th) data released on early US trading hours, new orders for US-made factory goods were dropped by 0.6 per cent in September after falling roughly 0.1 per cent in August, missing an economists’ forecast which was expecting a decline of 0.5 per cent amid growing protectionism over trade across the world, while factory orders were curbed by 0.3 per cent on a year-on-year basis last month.

Aside from that, the US Commerce Department had also revealed on Monday (November 4th) that revised new orders for US-made non-defence capital goods excluding aircrafts, often seen as an indicator of business spending on equipment, fell 0.6 per cent last month, up from a 0.5 per cent plunge reported earlier.