US factory orders contract in February
New orders for manufactured goods fell 0.5% in first decrease in 10 months
By Tuba Sahin
ANKARA (AA) – US factory orders contracted in February after nine consecutive monthly increases, the Commerce Department said on Monday.
New orders for manufactured goods fell by $2.7 billion, or 0.5%, to $542 billion in February.
The decline was around the market expectation, while January’s figure was slightly revised up to $544.7 billion.
The upward trend seen in new orders for durable goods over the past four months ended in February.
New orders for durable goods decreased by $5.8 billion, or 2.1%, to $271.7 billion, the latest data showed.
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