U.S. Factory Orders Fall More Than Expected In January

(RTTNews) - New orders for U.S. manufactured goods fell by more than expected in the month of January, according to a report released by the Commerce Department on Thursday.

The report said factory orders dropped by 0.7 percent in January after tumbling by a revised 2.0 percent in December. Economists had expected orders to decrease by 0.5 percent compared to the 1.5 percent drop originally reported for the previous month.

However, excluding a notable decrease in orders for transportation equipment, factory orders edged up by 0.2 percent in January compared to a 0.1 percent drop in December.