US Factory Orders Fall More Than Expected in December

Factory Orders Decline Beyond Expectations The US Department of Commerce has released factory order data for the December period.
According to the report, the value of factory orders in the country decreased by 0.7% compared to the previous month, falling to $617.5 billion.
Market expectations had anticipated a 0.4% decrease in factory orders for this period.
The announced data revealed that the decline was more significant than forecasts had suggested.
Durable and Non-Durable Goods When examining sub-categories for the period, orders for durable goods saw a decrease of 1.4%.
Meanwhile, orders for non-durable goods remained flat, showing no change during this timeframe.
In the previous month of November, factory orders had recorded an increase of 2.7%.
Leading Indicator for Economic Activity Factory orders are considered a critical leading indicator for the near-term performance of the industrial sector—a cornerstone of the US economy—and for general economic activity.
The decline in December signals that the loss of momentum in industrial production may be deeper than initially anticipated.