Commerce Department

Commerce Department: Factory orders dropped 0.9 per cent in October, the Commerce Department said Thursday. That followed a 1.8 per cent increase in September, according to 660 News. But core capital goods, which are a proxy for business investment, dropped 0.6 per cent, the second straight decline. Economists watch this category closely because it excludes volatile orders for aircraft and defence equipment and WASHINGTON U.S. factories received fewer orders in October, as aircraft demand fell and businesses cut back on computers. The decline suggests companies were hesitant to invest during the 16-day partial government shutdown. A big reason for the decline in October was a steep drop in orders for aircraft. (www.immigrantscanada.com). As reported in the news.