US goods orders dip in September with investment down
WASHINGTON — Orders for big-ticket manufactured goods dipped slightly in September as a key category that tracks business investment fell by the largest amount in seven months.
Orders for durable goods edged down 0.1 per cent in September after gains of 0.3 per cent in August and 3.6 per cent in July, the Commerce Department said Thursday. Orders in the category that serves as a proxy for business investment plunged 1.2 per cent in September, the biggest setback since a 2.1 per cent drop in February.
U.S. manufacturing has struggled this year as American companies have been confronted by a strong dollar which makes U.S. exports more expensive in foreign markets and by the lingering effects from a big drop in oil prices which triggered big investment cutbacks at energy companies.
Economists are hoping that better days are ahead for American manufacturers as the impacts of the stronger dollar and plunge in oil prices begin to fade.