U.S. Factory Orders Drop 0.5% In February
New orders for U.S. manufactured goods fell by slightly less
than expected in the month of February, according to a report
released by the Commerce Department on Monday.
The report said factory orders dropped by 0.5 percent in
February after coming in virtually unchanged in January. Economists
had expected orders to slide by 0.6 percent.
The decrease in factory orders came as orders for durable goods
tumbled by 1.6 percent, more than offsetting a 0.6 percent increase
in orders for non-durable goods.
Excluding a 4.5 percent nosedive in orders for transportation
equipment, factory orders rose by 0.3 percent in February after
edging down by 0.1 percent in January.
The Commerce Department also said shipments of manufactured
goods rose by 0.4 percent in February after slipping by 0.3 percent
in the previous month.
Inventories of manufactured goods also increased by 0.3 percent
in February after climbing by 0.5 percent in January.
With inventories and shipments both rising, the
inventories-to-shipments ratio was unchanged from the previous
month at 1.36.
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