The U.S. Commerce Department released factory orders data on Friday. Factory orders in the U.S. slid 1.7% in August, missing expectations for a 1.2% decline, after a 0.2% increase in July. July's figure was revised down from a 0.4% rise.
The decline was driven by a drop in durable goods orders. Durable goods orders decreased by 2.3% in August, while orders for nondurable goods declined 1.1%.
Factory orders excluding transportation fell 0.8% in August, after a 0.7% in July.
Orders for transportation equipment plunged 6.2% in August.
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