US August factory orders ex-transportation rise 0.3%, below 0.5% forecast

The miss matters less than the direction: core factory orders are decelerating, and the prior month's pace was revised down, so the softening is broader than a single data point. This feeds directly into the demand picture for tokenized industrial and commodity-linked real-world assets, where underlying manufacturing activity is a key input. Whether the slowdown persists into the next reading, or proves a one-month wobble, is the open question for RWA markets tracking macro demand.