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U.S. Factory Orders Fell in January

New orders for manufactured goods decreased 0.5% to a seasonally adjusted $497.9 billion in January, the Commerce Department reported Thursday. Economists surveyed by the Wall Street Journal expected a 0.1% decline.

The data reflect factory orders placed in January, before a broadening of the coronavirus epidemic heightened concerns of a potential worldwide pandemic and slowdown in global growth. Here are highlights from the report:

–Excluding transportation, orders were down 0.1% in January from the previous month. Orders excluding defense rose 1.3%. Orders for transportation and defense can be volatile from month to month.

–New orders for durable goods-items designed to last at least three years-decreased 0.2% in January, the same as the preliminary estimate. Orders for nondurable goods, such as food and clothes, fell 0.8% from December.

–Factory orders for December rose a revised 1.9%, an uptick from the previous estimate of a 1.8% increase.
Source: Dow Jones

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