https://sputnikglobe.com/20230306/us-factory-orders-down-in-january-as-aircraft-bookings-fall-commerce-dept-reports-1108126009.html
US Factory Orders Down in January as Aircraft Bookings Fall, Commerce Dept Reports
US Factory Orders Down in January as Aircraft Bookings Fall, Commerce Dept Reports
Sputnik International
New orders for US-made goods fell in the month of January, the Commerce Department reported on Monday, citing weakness in demand for civilian aircraft while noting some higher trends that indicated manufacturing may be on the mend.
2023-03-06T19:28+0000
2023-03-06T19:28+0000
2023-03-06T19:28+0000
economy
us
manufactured goods
civilian aircraft
machinery
manufacturing
us department of commerce
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Factory orders fell 1.6% in January after growing by a revised 1.7% in December. Economists polled by US media had on the average forecast factory orders to drop 1.8% in January, making the reported number slightly better than expected.While orders for passenger jets fell, the report also showed shipments for a range of manufactured goods rebounding from back-to-back declines in November and December, against unchanged inventories.Manufacturing accounts for 11.3% of the US economy, right after consumer spending, which makes up 70%.The January decline in orders for US-made goods came after last week’s release of the Institute for Supply Management’s survey that suggested manufacturing had slowed for a fourth month in a row in February.
https://sputnikglobe.com/20230208/us-trade-deficit-reaches-nearly-1-trillion-what-does-this-say-about-the-american-economy-1107082962.html
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US Factory Orders Down in January as Aircraft Bookings Fall, Commerce Dept Reports
WASHINGTON(Sputnik) - New orders for US-made goods fell in the month of January, the Commerce Department reported on Monday, citing weakness in demand for civilian aircraft while noting higher bookings for machinery and other merchandise that indicated manufacturing may be on the mend.
Factory orders fell 1.6% in January after growing by a revised 1.7% in December. Economists polled by US media had on the average forecast factory orders to drop 1.8% in January, making the reported number slightly better than expected.
While orders for passenger jets fell, the report also showed shipments for a range of manufactured goods rebounding from back-to-back declines in November and December, against unchanged inventories.
"These numbers are generally in-line with what was expected and the revisions are negligible," economist Adam Button said on the ForexLive forum. "It looks like we've seen the worst of the bullwhip effect around the manufacturing sector."
Manufacturing accounts for 11.3% of the US economy, right after consumer spending, which makes up 70%.
8 February 2023, 15:59 GMT
The January decline in orders for US-made goods came after last week’s release of the Institute for Supply Management’s survey that suggested manufacturing had slowed for a fourth month in a row in February.
