Categories
BigCommerce

Orders for big-ticket U.S. manufactured goods up weak 0.4% [Video]

Cheap and easy Video Content Marketing

Orders to U.S. factories for big-ticket manufactured goods increased just 0.4% in August following a much larger gain in the previous month.

It was the fourth consecutive monthly increase, but the most recent uptick was far weaker than the 11.7% surge in July, the Commerce Department reported Friday.

Economists had expected production to ease somewhat after manufacturers rebounded strongly in previous months from COVID-19 related shutdowns, but the growth in August was less than half what economists had projected.

Story continues below advertisement

A key category that tracks business investment plans rose 1.8% in August, compared with gains of 2.5% in July and 4.3% in June.

Economists appear divided over how to interpret the data. Some saw the string of positive numbers as a hopeful sign of a strong bounce back. Others, however, believe the modest advance overall signals that manufacturing appears paced for a slow recovery now that an initial boost from re-openings …

Watch/Read More