Factory orders show modest decrease in August
Factory orders showed a modest decrease in the month of August, according to a report released by the Commerce Department on Monday, with the drop due in large part to a steep decline in orders for transportation equipment.
Factory orders dropped by more than three times as much as analysts expected in September as the US manufacturing sector continues to suffer from the economic downturn.The Commerce Department said Tuesday that factory orders fell by 2.5 percent from August, far more than the 0.8 percent drop expected by Wall Street economists surveyed by Thomson Reuters.