The American manufacturing industry saw a decline in new orders in September, signaling weakness in the sector, according to latest data from the U.S. Census Bureau.
New orders for manufactured goods decreased by $2.8 billion, or 0.50 percent, in September, to $584.2 billion, according to a Nov. 4 statement from the agency. New orders—the volume of orders placed by customers for goods and services—is a key economic health indicator because it reflects the robustness of the overall business environment. Rising new order data is an indication that companies are expanding production or capacity and signals future investments. Policymakers use this data when formulating economic policies.
