New orders for U.S. factory goods declined 0.6% in September, the second consecutive month of falling demand, according to the U.S. Department of Commerce. The results were in line with Wall Street’s expectations. Orders for August were slightly revised to a 10.0% decline.
The decline is likely to be short-lived, as new order growth and backlogs saw a strong rebound in October, mostly due to domestic demand.
Exclusive Guide to Factoring for Staffing Companies
Whether your firm needs working capital to hire new talent, maximize a marketing opportunity, or extend client payment terms, factoring allows staffing companies to convert unpaid invoices into cash today. Download now to get answers to the top 10 questions related to accessing working capital via invoice financing.