US August factory orders unchanged from July vs down 0.2 pct expected

Orders to US factories for manufactured goods were essentially flat in August compared with July, the Commerce Department said Wednesday. Orders had fallen 1 pct in July and were expected to fall 0.2 pct in August. The slightly better showing in August stemmed from better-than-expected demand for durable goods, which are expected to last three years or more. Orders for durable goods were also flat in August, compared to the 0.5 pct decline the department estimated last week. The decline was erased largely because orders in July were revised downward. Excluding transportation related orders, factory orders fell 0.7 pct in August, the first decline since February. Orders excluding transportation goods had risen 1.5 pct in July. Excluding orders for defense related goods, factory orders fell 0.2 pct in August after falling 0.6 pct in July. Inventories rose 0.4 pct in August after rising 0.8 pct in the prior month, while shipments rose 1.1 pct in August after falling 0.1 pct in July. The inventory to shipments ratio remained at 1.17 in August.