Factory Orders Drop

The Commerce Dept. has released a report stating new orders in January for manufactured good decreased $1.7 billion or .5% to $343.2 billion. This follows a previously reported 1.8% December increase.

The decrease is largely due to a decline in transportation equipment. New orders in this segment dropped $5.7 billion or 10.3%. Excluding transportation, factory orders rose 1.4%.

Within the transportation category, aerospace took a big hit, with a 28.1% decrease on nondefense aircraft and a 34% decrease in defense aircraft. Motor vehicle bodies, parts and trailers dipped slightly by 3.2%.