Notizie economiche
05.03.2024

U.S. factory orders plunge 3.6 per cent in January

The U.S. Commerce Department reported on Tuesday that the value of new factory orders plunged by 3.6 per cent m-o-m in January 2024, following a downwardly revised 0.3 per cent m-o-m fall (from +0.2 per cent m-o-m) in December 2023. This marked the steepest monthly decline in factory orders since April 2020 (-13.9 per cent m-o-m).

Economists had predicted a drop of 2.9 per cent m-o-m for January.

According to the report, orders for durable goods plummeted 6.2 per cent m-o-m in January, primarily reflecting a -16.2 per cent m-o-m tumble in transportation equipment. Meanwhile, orders for nondurable goods fell by 1.1 per cent m-o-m.

Total factory orders excluding transportation, a volatile part of the overall reading, slipped by 0.8 per cent m-o-m (compared to a downwardly revised 0.3 per cent m-o-m drop (from +0.4 per cent m-o-m) in December), while orders for nondefense capital goods excluding aircraft, a measure of business spending plans, were flat m-o-m (compared to a 0.6 per cent m-o-m decrease in December and instead of increasing 0.1 per cent m-o-m as reported last month).

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