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Factory orders unexpectedly fell in August on lower demand for aircraft, the Commerce Department reported yesterday.
Stocks fell as durable goods orders unexpectedly dropped and the number of Americans filing claims for unemployment benefits rose more than estimated.
Machinery orders unexpectedly rose in June, the third consecutive monthly gain, but government forecasts suggest the rebound will be short-lived.
On Thursday, the Commerce Department reported that factory orders unexpectedly fell 0.5 percent in June from the previous month, while data on the labor market released Friday showed job creation still falling short of the level needed to bring down the unemployment rate.
June U.S. Durable-Goods Orders Unexpectedly Up 1.4%.
IATA cites rising traffic and airline profits as orders unexpectedly climb at Boeing and Airbus.
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The yen dropped after a report showed Japanese machinery orders tumbled unexpectedly in October.
The little positive economic news on Monday came from Europe, where German factory orders rose unexpectedly for a second consecutive month.
Weekly initial jobless claims surged to the highest level since late October, while factory orders fell unexpectedly in December, the government said.
[C3.] Factory Orders Rise Unexpectedly The Commerce Department said that the value of new factory orders rose 0.1percentt in July, to a seasonally adjusted $333.43 billion, led by orders for car parts and electrical equipment.
Some apparent justification for the shift arrived almost at once, as factory orders increased unexpectedly strongly in August by 1.3%.See article: Dollar, sterling and euro interest ratesThe strength of the yen does not appear to have damaged Japanese business confidence, according to the tankan quarterly survey of over 9,000 companies.
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