Orders for big-ticked manufactured items from U.S. factories dropped by
the largest amount in two years for October, 6.2 percent, according to
the U.S. Department of Commerce. The number was more than double the
average industry prediction of 3 percent. Demand for primary metals,
including steel, fell 12.6 percent, the largest drop on record,
according to the Associated Press. Total transportation orders were
down 11.1 percent, with automobiles down 4.5 percent and commercial
aircraft down 4.7 percent. Orders for machinery fell 6.8 percent, and
demand for computers and electronic products fell 2.4 percent.
All contents copyright 2020 Halcyon Business Publications, Inc.