FXstreet.com (Barcelona) - Orders for products manufactured in the U.S. have posted the fifth consecutive decline in December, and a somewhat larger than expected one, as data by the Commerce Department shows.
Factory orders have declined 3.9% in December, following a 6.5% drop in November, revised down from the 4.6% decrease previously estimated. Market analysts had advanced a decline about 3.0%.
For the whole 2007 year, factory orders have increased a mere 0.4%, well below the 1.9% increase posted in the 2007 year.
Orders for durable goods have dropped a revised 3.0%, previously estimated as a 2.6% drop, orders for non-durable goods have dropped 4.8% following a 8.7% decline in November, while Non-defense capital goods orders excluding aircraft, a key gauge to assess capital spending trends by businesses, has fallen 3.2%, reversing widely the 1.1% rise in November.