Factory orders -0.1%, a smaller decline the.>

US DATA: Factory orders -0.1%, a smaller decline than the -0.3% 

expected, with durable goods orders revised up to -0.8%. Nondurable goods

orders +0.7% on petro, coal, and chemical products.

- Factory orders ex transportation +0.8%, suggesting underlying growth.

- Nondefense capital goods new orders -3.7% in the month, but +0.3% 

excluding civilian aircraft.    

- Total factory shipments were +0.6% in October, with nondefense 

capital goods shipments -1.2% and +1.1% excluding civilian aircraft.

- Factory inventories +0.2%, so combined with the advance estimates 

for retail (-0.1%) and wholesale inventories (-0.4%), this would result 

in -0.1% for business inventories.