What is Factory Orders?

Legal Definition
The monthly Full Report on Manufacturers’ Shipments, Inventories, & Orders from the Census Bureau, more commonly called the Factory Orders report, totals the dollar volume of new orders, shipments, unfilled orders, and inventories reported by domestic manufacturers. Figures within the Factory Orders report are reported in the billions of dollars and also in a percent change from the previous month. Generally the Factory Orders report is not as widely watched as other economic releases. The Advance Release on Durable Goods, which usually precedes the Factory Orders report by one week, garners more attention, given that the durable goods report includes orders for capital goods, a proxy for equipment investmest.
-- Wikipedia
Legal Definition
A report about durable and nondurable goods. It includes changes in demand and inventory. It takes two weeks to get the information out there so the market has already had time to react to this.