Factory Orders in U.S. Fall by the Most in Five Months
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Orders to U.S. factories fell in January by the most in five months, weighed down by a slump in demand for military hardware and commercial aircraft.
Bookings dropped 2 percent after a revised 1.3 percent increase in December, Commerce Department data showed today in Washington. Economists projected a 2.2 percent decline, according to the median forecast in a Bloomberg survey. Demand for durable goods decreased 4.9 percent, little changed from the 5.2 percent drop estimated last week, while non-durables climbed 0.6 percent on gains in petroleum and chemicals.