US factory orders down, but services and jobs improve

New orders at factories in the United States fell 0.4 percent in September, mainly due to a large fall in orders for transportation equipment, according to the Commerce Department. Excluding transportation, factory orders rose 0.3 percent.

The number of new orders in August was revised down to a 0.3 percent decline from the originally-reported 0.1 percent dip.

In services, things are looking better, with the Institute for Supply Management's index rising to 59.8 in October from September's 56.7.

Over on the employment front, job-cut announcements by US companies fell 5.6 percent in October, according to outplacement firm Challenger, Gray and Christmas. At 101,840, however, the number of jobs cut has exceeded 100,000 for the second consecutive month.

The overall picture appears to be one of continued but uneven growth in the US.