New orders for manufactured goods made in the US rose 0.7 percent from a month earlier in September 2018, following an upwardly revised 2.6 percent growth in the previous month and beating market expectations of a 0.5 percent gain. Orders for transport equipment led the increase (1.9 percent vs 13.3 percent in August) due to vehicles & parts (0.5 percent) and defense aircraft & parts (118.7 percent). Demand also rose for machinery (0.3 percent vs 0.2 percent) and primary metals (0.5 percent vs 1.5 percent), while there were declines in orders for fabricated metal products (-0.9 percent vs 0.5 percent) and electrical equipment, appliances & components (-0.3 percent vs 0.6 percent). Factory Orders in the United States averaged 0.29 percent from 1991 until 2018, reaching an all time high of 10.60 percent in July of 2014 and a record low of -10 percent in August of 2014.
Factory Orders in the United States is expected to be 1.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Factory Orders in the United States to stand at 1.80 in 12 months time. In the long-term, the United States Factory Orders is projected to trend around 0.80 percent in 2020, according to our econometric models.