New factory orders fell more than expected in September, marking the second decline in a row, the government announced Tuesday.The U.S. Census Bureau said orders fell 2.5% to $432 billion in September, a steeper drop than the 0.8% forecasted by a Briefing.com survey of economists.
The month of August was revised to reflect a greater decline, to 4.3%.
The main source of weakness in the report comes from disruptions to refineries due to Hurricane Ike in September and the falling price of petroleum, according to Mark Vitner, senior economist at Wachovia.
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