After reporting a sharp drop in new orders for U.S. manufactured goods in the previous month, the Commerce Department released a report on Tuesday showing that factory orders saw further downside in the month of September.
The Commerce Department said factory orders fell by 1.0 percent in September after tumbling by a revised 2.1 percent in August.
Economists had expected orders to drop by 0.9 percent compared to the 1.7 percent decrease originally reported for the previous month.
The report showed that orders for durable goods slumped by 1.2 percent following a 2.9 percent drop in August. Orders for transportation equipment led the decrease, plunging by 3.1 percent.
Orders for non-durable goods also fell by 0.8 percent in September after sliding by 1.3 percent in the previous month.
The Commerce Department also said shipments of manufactured goods dipped by 0.4 percent in September after falling by 0.9 percent in August.
Inventories of manufactured goods also fell by 0.4 percent in September, matching the decrease seen in the previous month.
Subsequently, the inventories-to-shipments ratio for September came in unchanged from August at 1.35.
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