Factory Orders increased by 2.1%, $8.8 billion, to $420.0 billion in September against the expected 1.5% increase, following a 0.5% decrease in August, revised downwards from a reported 0.4% decrease. Factory Orders are up 3 consecutive months. Excluding transportation, Factory Orders increased by 0.4%.
The ISM Services Index increased to 54.3 in October, higher than the expected level of 53.3, after increasing to 53.2 in September and decreasing to 51.5 in August. The index’s complement, the ISM Manufacturing Index increased to 56.9 on last Monday’s release after decreasing to 54.4 in September.
Crude inventories increased by 2.0 million barrels, for the week ending October 29, from the previous week to 368.2 million barrels and were above the upper limit of the average range for this time of year. U.S. crude oil refinery inputs averaged 13.9 million barrels per day during this period, 233 thousand barrels per day below the previous week’s average. U.S. crude oil imports were averaging 8.6 million barrels per day, down by 885 thousand barrels per day from the previous week.
Upcoming Releases
FOMC Statement Policy (11/03 at 2:15 PM EST)
Initial Claims (11/04 at 8:30 AM EST)
Non Farm Productivity (11/04 at 8.30 AM EST)
Unemployment Rate (11/05 at 8.30 AM EST)
