![](https://firstmetro.com.ph/wp-content/uploads/2023/12/US-factory_1205-1.jpg)
- New orders for U.S.-made goods fell more than expected in October, marking the biggest monthly drop in roughly three and a half years, constrained by weakening demand for durable goods and transportation equipment and bolstering the view that high interest rates are beginning to bite into spending.
- Factory orders fell 3.6% after a downwardly revised 2.3% in September, the Commerce Department’s Census Bureau said on Monday, the biggest monthly drop since April 2020. Economists polled by Reuters had forecast orders would decline 2.8%. Orders advanced 0.5% on an annual basis in October.
- Orders for durable goods fell 5.4%, with orders for transportation equipment slumping 14.7%. Machinery orders decreased 0.3%. Electrical equipment, appliances and components orders fell 1.1%. Manufacturing non-durables declined 1.9%
https://www.reuters.com/markets/us/us-factory-orders-fall-36-october-2023-12-04/