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Factory orders decline

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U.S. factory orders dropped more than expected in August, marking the third decline in the last four months.

Separately, the National Association of Realtors’ index for pending sales of used homes increased 4.3% to 82.3, the industry group said Monday. Economists surveyed by Dow Jones Newswires had expected pending home sales would increase 3.8% in August. Year over year, the pending sales index was 20.1% below its level of 103 in August 2009.

U.S. manufactured goods orders decreased by 0.5% to $408.94 billion, the Commerce Department said Monday.

Commercial airplanes drove the decline; excluding transportation, all other factory orders rose.

The report had positive data. A barometer of business capital spending increased; non-defense capital goods orders excluding airplanes rose by 5.1%.

Economists surveyed by Dow Jones Newswires had expected overall factory orders would decrease by 0.4% in August. July orders rose 0.5%, revised from a previously reported 0.1% increase.

Full Story: Factory Orders Decline – WSJ.com