U.S. Factory Orders Jump 1.8% in September, Exceeding Analysts’ Forecasts
Key Facts
New orders for manufactured goods in the United States rose 1.8% in September to $677.2 billion, according to data from the U.S. Census Bureau released on November 3, 2026. The increase exceeded a Reuters poll forecast of a 1.2% rise, after August’s increase was revised to 0.3%. The reading signals broader demand for manufactured goods at the end of the third quarter. Reuters said aircraft bookings and a range of other goods supported the increase. Orders also rose 7.2% year over year in September.
A revision showed that orders rose 0.3% in August, compared with a previously reported increase of 0.1%. On a monthly basis, September’s result exceeded expectations, while the prior-month revision strengthened the picture of U.S. industrial demand. The value of new orders was $677.2 billion, the level reported by the Census Bureau for September. A notable contribution came from aircraft bookings, along with a range of other goods, according to Reuters. The figures were released on November 3, while the measurement period was September.
Reuters placed factory performance in the context of broader support from artificial intelligence infrastructure construction and strong consumer spending. It said manufacturing accounts for about 9.4% of the U.S. economy. This indicates that demand for industrial goods is affected by infrastructure investment and household spending, alongside monthly order components such as aircraft bookings. The agency described these factors as underpinning U.S. industry. September’s reading remains part of a broader picture of the sector, while the report itself puts annual order growth at 7.2%.
In energy markets, the EL7 natural gas index closed at $2.875 on November 3, compared with a close of $2.856 in the previous session, according to EL7 data. This provides a direct comparison between the day’s close and the November 2 close, at a time when the futures figure and percentage gain cited in the circulating gas report could not be verified. On supply, the latest available monthly data from the Energy Information Administration showed dry gas production of 115.84 billion cubic feet per day in August. Production was up 6.6% from August 2025, reaching the highest daily rate for any month since the series began in 1973. The agency said production rose year over year for the 18th consecutive month in August.
The Energy Information Administration forecast that gas inventories increased by 328 billion cubic feet in October, reaching 3,850 billion cubic feet at the end of the month. If the estimate is realized, inventories will begin the heating season on November 1 at 2% above the five-year average. In its winter outlook, the agency said heating degree days would be nearly in line with the previous winter’s average and 1% below the average of the previous five winters. It added that inventories provide a buffer against periods of higher consumption or lower production, while prolonged cold spells could push withdrawals above its forecast. The agency forecast average dry gas production of 112.20 billion cubic feet per day in 2026, rising to 116.13 billion in 2027.
On trade, U.S. net natural gas exports reached 19.58 billion cubic feet per day in August, the highest daily rate for that month since trade records began in 1973. Liquefied natural gas exports totaled 16.61 billion cubic feet per day to 34 countries. In its October forecast, the Energy Information Administration estimated that the Henry Hub spot price would average $3.16 per million British thermal units in 2027, down 32 cents, or 9%, from the 2026 average. As for the weekly oil inventories report, the agency’s schedule set the release date for the report covering the data week ended November 6 at November 12, 2026, because of the Veterans Day holiday. That date follows the referenced data week, rather than falling on November 4.