US factory orders down for 5th straight month in Dec
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NEW orders for US factory goods fell for a fifth straight month in December, but a smaller-than-previously-reported drop in business spending plans supported views of a rebound in the months ahead.
The Commerce Department said on Tuesday new orders for manufactured goods declined 3.4 per cent as demand fell across a broad sector of industries. That followed a 1.7 per cent decrease in November.
Economists polled by Reuters had forecast new orders received by factories sliding 2.2 per cent. US financial markets were little moved by the data.
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