U.S. factory orders rise by 1.1% amid the coronavirus outbreak

04.11.2020 - Korneychuk Evgeniya
U.S. factory orders rise by 1.1% amid the coronavirus outbreak

On Tuesday, the United States Commerce Department announced that factory orders climbed by 1.1% after it went up by 0.6% three months ago.

The government agency said that factory orders went up in light of increased demand for primary metals, computers, and electronic products as well as motor vehicles and fabricated metal products.

However, factory orders for machinery, furniture and electrical equipment, appliances and components went down amid the coronavirus pandemic.

U.S. shipments of goods rose by 0.3% to $482.8 billion while unfilled orders fell by 0.2% to $1,075.9 billion. Moreover, inventories increased very slightly worth $686.7 billion.

According to manufacturers, order sales had rebounded faster after U.S. consumers shifted to working from home and remote classrooms to avoid public transportation due to COVID-19.

In September, Reuters economists said that U.S. factory orders would rise by 1.0%.

 

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