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US factory orders fall 1.7% in February

by ChemOrbis Editorial Team -
  • 05/04/2016 (15:14)
According to data released by the US Commerce Department, US factory orders posted a decrease of 1.7% in February following a downwardly revised gain of 1.2% in January, signaling more sluggish manufacturing activities in the first quarter.

The stronger dollar and persistently stagnant global demand continued to weigh down the country’s manufacturing activities while the sector has also been hit by lower investment by energy firms as they adjust to reduced profits from multi-year low oil prices.

The data also revealed that orders for non-defense capital goods excluding aircraft dipped 2.5% in February after declining 1.8% in the previous month. Orders for transportation equipment slid 6.2% while orders for machinery dropped 3.4% in February.

Meanwhile, shipments of core capital goods fell 1.7% in February following a decrease of 1.1% In January.
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