World News – United States – September factory orders rise 19%, economists see risks ahead

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WASHINGTON (AP) – Orders US high-priced manufactures factories grew by more than expected 19% in September with a key category following business investment also showing solid gain

The rise in orders followed a smaller 0 4% increase in August and was the best gain since an 11 8% increase in July, the Commerce Department said Tuesday

Orders for non-defensive capital goods excluding aircraft, a key category seen as a proxy for business investment spending, rose 1% in September after larger gains in July and August

While activity was significantly above the modest 05% lead expected by many economists, US factories continue to face significant headwinds

« Although the September data is positive, the risk to the manufacturing sector now comes from the surge in virus cases that could lead to supply chain disruptions, weigh on demand and slow the pace of the rebound in the future, ”said Rubeela Farooqi, Chief US Economist at High Frequency Eonomics

The average daily death toll across the country has increased 10% in the past two weeks, from 721 to nearly 794 on Sunday, according to data from Johns Hopkins University Newly confirmed daily infections are increasing in 47 states, and deaths are on the rise in 34

The pace of durable goods orders has slowed after an initial surge in demand as the country reopened after spring closures to contain the virus In addition to the new outbreak of infections now underway, analysts fear that any $ 3 trillion increase in congressional support passed in the spring will not fade So far, Congress has not been able to renew programs to increase unemployment benefits and support small businesses

For September, orders in the volatile transportation sector rose 41% with demand for motor vehicles and parts up 15% Even orders in the struggling commercial airline industry rose by $ 1.8 billion after falling $ 3.2 billion in August as many airlines struggling to cope with weak travel demand cut back on previous orders

Orders for computers and related products fell 31% in September, but demand for primary metals like steel rose 4%

Durable goods orders, which are expected to last at least three years, totaled seasonally-adjusted $ 237 billion in September, for the first nine months of this year orders are down 101% from same period in 2019

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Durable goods

World news – US – September factory orders rise 19%, economists see risks ahead


SOURCE: https://www.w24news.com

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