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US factory orders decline for fifth straight month in December

by ChemOrbis Editorial Team -
  • 04/02/2015 (16:56)
According to data released by the US Commerce Department, new factory orders fell for a fifth consecutive month in December. Factory orders decreased 3.4% in December. Economists’ initial estimates called for a decrease of 2.2% in December.

The larger than expected decrease was attributed to weaker demand from Europe and Asia as well as a stronger dollar and plunging crude prices, which has led several oil companies to reduce their capital expenditure budgets.

Meanwhile, orders for non-defense products were down 0.1% in December after falling 0.6% in the previous month while non-defense capital goods orders rose 0.2% in the last month of 2014.
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