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WASHINGTON, Dec 6 (Reuters) – New orders for U.S.-made goods recorded their biggest drop in more than a year in October and business spending on equipment appeared to be softening, suggesting a slowdown in activity in the manufacturing sector. Factory goods orders fell 2.1 percent amid a decline in demand for a range of goods, the Commerce Department said on Thursday. That was the largest decrease in orders since July 2017 how to put cufflinks on a single cuff shirt uk online. Data for September was revised lower to show factory orders rising only 0.2 percent instead of the previously reported 0.7 percent increase..
Economists polled by Reuters had forecast factory orders declining 2.0 percent in October. Orders increased 8.3 percent on a year-on-year basis in October how to put cufflinks on a single cuff shirt uk online. An Institute for Supply Management survey of manufacturers published on Monday showed an improvement in business conditions in November. Manufacturers across nearly all industries, however, complained that worker shortages and the Trump administration’s import tariffs were disrupting operations. In October, orders for transportation equipment tumbled 12 percent, the biggest drop since October 2017, reflecting a 59.3 percent plunge in orders for defense aircraft and parts. Transportation equipment orders rose 0.9 percent in September..
Orders for civilian aircraft and parts dropped 22.2 percent in October. Orders for motor vehicles slipped 0.1 percent. There were also declines in orders for primary metals and machinery. But orders for computers and electronic products rose, as did those for fabricated metal products and electronic equipment, appliances and components. The Commerce Department also said October orders for non-defense capital goods excluding aircraft, which are seen as a measure of business spending plans on equipment, were unchanged, as reported last month. Orders for these so-called core capital goods dropped 0.6 percent in September how to put cufflinks on a single cuff shirt uk online.
Shipments of core capital goods, which are used to calculate business equipment spending in the gross domestic product report, rose 0.3 percent in October, as reported last month how to put cufflinks on a single cuff shirt uk online. Core capital goods shipments fell 0.3 percent in September. Business spending on equipment has slowed since the second quarter after strong growth in 2017 and early 2018. This is despite the White House’s $1.5 trillion tax cut. Some companies including Apple (AAPL.O) used their tax windfall to buy back shares on a massive scale. Spending on equipment could also be undercut by declining oil prices..
FRANKFURT (Reuters) – Daimler (DAIGn.DE) said a proposed deal to combine its mobility services company with that of rival BMW (BMWG.DE) will not close this year, forcing the carmaker to lower the outlook for its financial services division how to put cufflinks on a single cuff shirt uk online. Daimler said the delay means it will not be able to book valuation and earnings gains this year, causing the financial services division’s 2018 earnings before interest and taxes (EBIT) to come in significantly below prior year’s level. The valuation gains are now expected to be booked in 2019, Daimler said. The carmaker further said its 2018 full year EBIT forecast on a group level remains unchanged..