US Factory Orders Edge Up 0.1% to $663.5 Billion in August

U.S. factory orders rose 0.1% month-over-month in August to reach $663.5 billion, according to the U.S. Census Bureau. The modest advance met or slightly beat consensus estimates, which varied between 0.0% and 0.1%, but marked a slowdown from an upwardly revised 0.8% increase in July. Factory orders excluding transportation expanded 0.3%, while core nondefense capital goods orders excluding aircraft held firm at 1.6%. Meanwhile, durable goods orders were revised down to a 0.1% decline, and the manufacturing inventories-to-shipments ratio edged up to 1.48 from 1.47.