The Census Bureau of the Department of Commerce.
Factory orders consist of the earlier announced durable goods report plus non-durable goods orders.
The report is very predictable with nondurables the only new component. Nondurables consist of such items as food and tobacco products which grow at a fairly consistent monthly rate, so that market forecasts for this report are far more accurate than for the durable orders report. In addition to seeing nondurables for the first time, the market also watches for revisions to the durable orders data, which can be significant. Though the inventory figure is not a market-mover, economists use this number to help forecast inventories in the quarterly GDP report. All Rights Reserved.