US factory orders fall 0.2% in November
The data revealed that orders excluding transportation fell 0.3% in November after increasing 0.1% in October while orders for non-defense capital goods excluding aircraft declined 0.3% following a decrease of 0.4% in the previous month.
Meanwhile, inventories of factory goods slipped 0.3%, declining for a fifth consecutive month in November.
This week, economists revised their fourth quarter growth expectations for the US economy downward by around 1% to 0.5%. In the third quarter, the US economy grew 2% on a yearly basis.
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