US factory orders rose in September after business investment jumped by its highest amount in six months.
Total factory orders increased for a third straight month, rising by 0.3%, according to the latest figures.
Demand for core capital goods, seen as a bellwether for business investment spending, jumped 2.5%.
This rise - which was driven by strong demand for machinery and computers - represented the largest increase since a 5.4% rise in March.
The report on factory orders covers durable goods, items expected to last at least three years, and non-durable goods, which includes products such as paper, chemicals and clothing.
Orders for durable goods fell 0.6%, while orders for non-durable goods such as petrol, chemicals, food and paper, rose 1% in September after no gain in August.
The data comes after Wednesday's announcement that the US Federal Reserve had cut its forecast for US growth and upped its expectation for unemployment next year.
The US economy is expected to grow only 1.6%-1.7% this year, and 2.5%-2.9% next - about one percentage point lower than previous estimates. The jobless rate is expected to stay at 9.1% this year.
The Fed anticipates unemployment falling only to 8.5%-8.7% next year. It had previously expected a fall to 7.8%.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Ashanti GRNMA accuses health ministry of sabotaging planned strike
6 minutes -
Karim Zito eyes MTN FA Cup glory after victory over Medeama
22 minutes -
Hanna Bissiw leads task force to arrest 12 for illegal mining in Adobewora forest reserve
25 minutes -
Special Prosecutor calls for a rethink of Ghana’s anti-corruption fight
38 minutes -
Musah Ahmed decries political interference in Chairman Wontumi’s case
46 minutes -
Bleached babies: Dr. Titus Beyuo demands crackdown on child skin bleaching
1 hour -
Lawyer urges Ken Ofori-Atta to submit to OSP investigation amid public concern
1 hour -
Bleached children may have brain challenge, other health complications – Dr Titus Beyuo
1 hour -
Bleached Babies: Dr. Titus Beyuo shares how his son faced school discrimination over skin color
1 hour -
Newage and Afrika Nyornu: Creating a period-friendly world for girls
1 hour -
Bleached Babies: Western beauty ideals driving mental health concerns in Ghana – Dr Titus Beyuo
1 hour -
Bleached Babies: parents who bleach their children are criminally culpable – CDD-Ghana
1 hour -
GTEC issues “final warning” on misuse of honorary academic titles
2 hours -
Ghana Horticulture Expo 2025 to empower youth and women through agribusiness
2 hours -
Ghana must recognise child nutrition as a fundamental right, not a privilege – Dr Charity Binka
2 hours