Orders for U.S.-made factory goods fell sharply in September for the second straight month, further evidence that the manufacturing sector is slowing at a rapid pace.
Factory orders fell 2.5 percent in September after falling a revised 4.3 percent in August, the Commerce Department estimated Tuesday.
Economists had been looking for a drop of about 0.2 percent in factory orders, according to a survey conducted by MarketWatch.
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Factory orders fell more than expected because of a sharp 5.5 percent drop in orders for nondurable goods, the biggest decline in two years. Orders for durable goods such as airplanes, computers and washing machines increased a revised 0.9 percent in September, up slightly from 0.8 percent estimated a week ago.