December factory orders post biggest fall in a year
Washington
NEW orders for US factory goods fell in December by the most in a year as manufacturing continued to reel from the headwinds of a strong US dollar and weak overseas demand.
The Commerce Department said on Thursday that new orders for manufactured goods dropped 2.9 per cent, the largest drop since December 2014, after a downwardly revised 0.7 per cent fall in November. Factory orders fell 6.6 per cent in 2015.
Manufacturing, which accounts for about 12 per cent of the economy, is also being pressured by an inventory overhang and cuts in c…
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