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U.S. factory orders increase strongly in August By Reuters

by Mike Robinson

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© Reuters. FILEPHOTO: This sign advertising towels manufactured in America is visible at Walmart Supercenter, Bentonville Arkansas on June 5, 2014. Annual shareholder meeting at Walmart Stores Inc. June 6th 2014. REUTERS/Rick Wilking

WASHINGTON, (Reuters) – August saw a surge in orders for U.S. manufactured goods. This indicates that manufacturing is still strong despite the fact that economic growth slowed in third quarter due to shortages in raw materials.

According to the Commerce Department, factory orders rose 1.2% in August following a 0.7% increase in July. Reuters polled economists to forecast that factory orders would rise 1.0%.

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