New factory orders for manufactured goods slumped 1.3% in February, the Commerce Department announced yesterday.
The factory order decrease to $424.416 billion was larger than the 0.6% decrease projected by IFR Markets and came after a revised 2.3% decrease to $430.072 billion in January, originally reported as a 2.5% decrease to $429.224 billion.
Excluding transportation, the level of all new manufacturing orders slid 1.8% to $361.3 billion in February, following a 0.3% drop in January to $368.1 billion. The decrease compared to a 0.3% increase projected by IFR.
Excluding military orders, new orders fell 1.5% to $412.3 billion following a 2.0% decrease to $418.4 billion in January.
New orders for durable goods dropped 1.1% to $212.3 billion in February, while orders for nondurable goods slid 1.5% to $212.1 billion.
