Factory orders unexpectedly rose

A worker cuts steel plates inside the China Steel Corporation factory in Kaohsiung
Thomson Reuters

Factory orders unexpectedly rose by 0.2% in August month-over-month, according to a report from the Commerce Department on Wednesday.

Meanwhile, economists had forecast that factory orders fell by 0.2%, according to the Bloomberg consensus.

July’s increase was revised downwards to 1.4% from 1.9%.

A preliminary report on durable goods orders showed that purchases of stuff built to last rose 0.1%.