US factory orders down 0.7% in February for 3rd time in past 4 months
Orders for new durable goods fall 1%
By Ovunc Kutlu
ISTANBUL (AA) - US factory orders fell 0.7% in February for the third time in the last four months, the Commerce Department said Tuesday.
New orders for manufactured goods decreased $3.9 billion, or 0.7%, to $536.4 billion.
While the market expected a decline of 0.5%, it followed a 2.1% decrease in January.
Orders for new durable goods were also down for the third time in the last four months, falling $2.7 billion, or 1%, to $268.4 billion.
New orders for manufactured nondurable goods decreased $1.2 billion, or 0.4%, to $268.1 billion.
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