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.