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In August, new orders for American products demonstrated their biggest leap for almost a year, underpinned by a rally in demand for aircraft, although sluggish business spending on equipment dropped a hint that the manufacturing sector could be decelerating.
Factory products orders sank by 2.3%, which is the largest ascend since September last year, as the Commerce Department informed on Thursday. July’s data was updated upwards to show factory orders decreasing by 0.5% versus the previously disclosed 0.8% sink.
Market experts interviewed by Reuters had predicted factory orders bouncing off 2.1% in August. In August, orders rallied by 8.6% on a year-on-year basis.
Manufacturing, accounting for nearly 12% of the American economy, is being backed by firm domestic demand, although momentum is anticipated to gradually speed down in the face of worker shortages, an escalating trade clash between China and America, a strengthening greenback as well as moderating global surge.
An Institute for Supply Management poll of manufacturers issued on Tuesday disclosed factory activity rebounded from a 14-year maximum in September.
Besides this, orders for transportation equipment headed north by 13.1%, which appears to be the largest rally since June last year. It actually reflected a 69.1% rally in the volatile orders for civilian aircraft as well as parts. As for orders for defense aircraft and its parts, they added 17% in August. By the way, transportation orders slumped by 3.6% in July.
In August, orders for cars surged by 1% having soared by 1.6% in July. In addition to this, there were leaps in orders for fabricated metal products, electronic equipment, primary metals, appliances as well as components. However, orders for computers, machinery as well as electronic products went down.
Shipments of core capital products utilized for calculating business equipment spending in the gross domestic product report, dived by 0.2% in August versus a 0.1% leap in September.
November’s euro zone consumer price inflation was suddenly updated downwards on Monday, thus contributing to skepticism that the EU’s key financial institution won’t be able to move ahead with an interest rate lift next year…
Fed, BOJ and British MPC will make their monetary policy statements during this week. What else will move the market? Find out from the news!
In December, Germany's private sector expansion speeded down to a four-year minimum, as a survey disclosed…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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