FXstreet.com (Barcelona) - Manufacturing new orders have posted an unexpected increase in October, due to a better than expected performance on durable goods orders, which made possible the fourth increase in orders of the last five months., according to data released by the US Department of Commerce.
Orders for manufactured goods have increased 0.5% in October to $423.5 billion, following a 0.3% increase in September, which has been revised up from the initial y reported 0.2% increase. November's rise came unexpected, as market analysts had advanced a flat performance.
Manufacturing shipments have risen 1.0% in October, following a0.1% rise in September, while unfilled orders posted another 1.0% increase to $779.5 billion, the highest level since records were taken, following a 1.1% increase in September. The unfilled orders-to-shipments ratio was 5.21, up from 5.17 in September, while inventories Inventories increased 0.1%to $520.0 billion.
New orders for durable goods decreased 0.2% in October, a milder fall than the 1.4% posted on the previous month, while orders for non-durable goods increased 1.3%.