follow us

American factory orders hit two-year low

As the U.S. economy continues to weaken, U.S. factory orders fell almost 4 percent in January to their lowest level since 1999, driven down by weak demand for new aircraft, the Commerce Department reported.

Driven by slowing auto sales and a weak Christmas shopping season, it was the first decline in factory orders since October of last year.

The value of new factory orders dropped off by 3.8 percent to a seasonally adjusted level of $366.5 billion, more than offsetting a modest 0.6 percent increase in December. And even that skimpy December gain was revised downward from an earlier estimate of a 1.1 percent increase.

Excluding the highly volatile transportation sector, which includes aircraft orders and is subject to wide fluctuation, January factory orders continued a recent slide, falling by 0.3 percent after a 1.1 percent decline in December.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.