February Factory Orders Miss Expectations By A Mile, As Economy In Q1 Looks Worse And Worse

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Photo: Kabacchi via Flickr

Factory orders in February missed expectations big time. Estimates were for growth 3%.Instead: -0.1%.

From the Census Department;

New orders for manufactured goods in February, down following three consecutive monthly increases, decreased $0.4 billion or 0.1 per cent to $446.0 billion, the U.S. Census Bureau reported today. This followed a 3.3 per cent January increase. Excluding transportation, new orders increased 0.1 per cent.

Shipments, up six consecutive months, increased $1.4 billion or 0.3 per cent to $448.3 billion. This followed a 1.7 per cent January increase.

This keeps with a trend of steadily disappointing data on Q1.

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