Tags: US | Factory | Orders

Factory Orders Jump 1 Percent in December

Thursday, 04 Feb 2010 10:23 AM

Orders to U.S. factories posted a big gain in December, far exceeding expectations and adding to evidence that the manufacturing sector is supporting the economic recovery.

The Commerce Department said Thursday that orders rose by 1 percent last month, double the 0.5 percent forecast by economists surveyed by Thomson Reuters. The advance was the eighth increase in the past nine months.

It was led by big gains in orders for metals such as steel and aluminum, as well as machinery. However, orders for transportation equipment as well as computers and electronics dipped slightly.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

WASHINGTON (AP) — Orders to U.S. factories posted a big gain in December, far exceeding expectations and adding to evidence that the manufacturing sector is supporting the economic recovery.

The Commerce Department said Thursday that orders rose by 1 percent last month, double the 0.5 percent forecast by economists surveyed by Thomson Reuters. The advance was double what had been expected and the eighth increase in the past nine months.

It was led by big gains in orders for metals such as steel and aluminum, as well as machinery. However, orders for transportation equipment as well as computers and electronics dipped slightly.

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Orders to U.S. factories posted a big gain in December, far exceeding expectations and adding to evidence that the manufacturing sector is supporting the economic recovery.The Commerce Department said Thursday that orders rose by 1 percent last month, double the 0.5 percent...
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2010-23-04
Thursday, 04 Feb 2010 10:23 AM
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