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U.S. Factory Orders Fall, but Unfilled Orders Still Rising

Reuters (11/04/14)

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.