U.S. Factory Orders Decline 1.3% in October Amid Aircraft Weakness
U.S. factory orders fell by 1.3% in October 2024, mainly due to a sharp decline in aircraft orders. Despite this, core capital goods showed resilience, hinting at mixed signals in manufacturing demand.
Insights:
In October 2024, U.S. factory orders experienced a 1.3% decline, according to the U.S. Commerce Department Census Bureau. This downturn followed a modest 0.2% gain in September, marking a shift in manufacturing momentum. Economists had anticipated a 1.2% decrease, but the actual figures slightly exceeded expectations. The decline was largely driven by a significant drop in aircraft orders, a category known for its volatility.
