Factory Orders Fall For Fifth Consecutive Month In December

[Purveyor]

Source: RTT NEWS

(RTTNews) - Orders for manufactured goods fell by more than expected in the month of December, according to a report released by the Commerce Department on Thursday, with factory orders falling for the fifth consecutive month.

The report showed that orders for manufactured goods fell by 3.9 percent in December following a revised 6.5 percent decrease in November. Economists had expected orders to fall by 3.1 percent compared to the 4.6 percent decrease originally reported for the previous month.

With orders falling for the fifth straight month, the Commerce Department said that it marked the longest streak of consecutive monthly decreases since the series was first published on a NAICS basis in 1992

The bigger than expected drop in factory orders reflected notable decreases in orders for both durable and non-durable goods.

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