Economic Buzz: US factory orders up 0.1% in August

New orders for manufactured goods in the United States in August grew by 0.1% or $700 million to $663.5 billion compared to the previous month, the US Census Bureau reported on Friday.

Shipments were virtually unchanged month-over-month, according to the report, reaching $658.6 billion. The data also showed that unfilled orders increased by 0.6% or $9.9 billion to come to $1.6 trillion in August.

Inventories amounted to $972.4 billion, climbing by 0.5% or $5.1 billion for the corresponding month. The inventories-to-shipments ratio was 1.48, going above the July figure.

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