Merrill Lynch & Co. expected new orders for U.S. manufactured goods to surge 3.2% in August. They didn't. But neither was their August gain as low as the 1.5% increase economists generally foresaw.
New orders for manufactured goods for August, the most recent month for which data are available, increased 2.5% to a seasonally adjusted $395.2 billion, reversing a 2.5% decrease in July, the U.S. Commerce Department reported on October 4.
For the fourth time during the last five months, new orders for manufactured durable goods increased, with primary metals; fabricated metal products; computers and electronic products; electrical equipment, appliances and components; and transportation equipment all posting gains. New orders for durable goods increased 3.4% to a seasonally adjusted $210.6 billion.
New orders for manufactured nondurable goods increased 1.6% to a seasonally adjusted $184.7 billion.