New factory orders for manufactured goods slumped 2.5% in January, the Commerce Department said yesterday.
The factory order decrease to $429.224 billion, matched the 2.5% decrease projected by IFR Markets and came after a revised 2.0% increase to $440.035 billion in December, originally reported as a 2.3% increase to $444.566 billion.
Excluding transportation, the level of all new manufacturing orders slid 0.4% to about $367.8 billion in January, following a 0.6% rise in December to $369.4 billion. The decrease compared to a 2.3% decrease projected by IFR Markets.
Excluding defense, new orders fell 2.0% to $418.3 billion, following a 0.8% increase to $426.9 billion in December.