US Factory Orders Rise Slightly Above Expectations

According to US Census Bureau data, US Factory Order rose by 1.6% MoM in November. That was slightly above the expected 1.5% gain and marked an acceleration on the 1.2% MoM gain seen back in October (which was revised up from 1.0%).

Excluding transportation, orders were up 0.8% on the month, though this marked a deceleration from last month’s MoM growth rate of 1.5% (which was revised down from 1.6%.

The Factory orders released by the US Census Bureau is a measure of the total orders of durable and non-durable goods such as shipments (sales), inventories and orders at the manufacturing level which can offer insight into inflation and growth in the manufacturing sector. Normally, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).