US factory orders increase in August

ISTANBUL

US factory orders increased by 1.4% month-on-month in August, reaching $612 billion, the US Department of Commerce stated on Tuesday.

Factory orders, which increased in line with market expectations during this period, decreased by 1.3% in July.

Durable goods orders rose by 2.9% during this period, while non-durable goods orders slipped 0.1%.

Factory orders data are critical for determining the near-term performance of the industrial sector, which plays a significant role in the US economy.

The August figures were supposed to be released in October, but they were postponed due to the US government shutdown.