Credit, Economy and Financial News from TruckingFactor.com

Factory Orders Down For Fifth Straight Month in December

The Commerce Department reported that factory orders fell 3.9% in December, the fifth consecutive monthly decline, ending a tough year for manufacturing. For all of 2008, factory orders edged up 0.4%, the weakest showing since orders fell 1.8% in 2002. The weakness in December plagued industries from autos to heavy machinery to computers. Demand for durable goods, goods expected to last at least three years, fell 3% in December. Demand or non-durables, such as food, paper and petroleum, declined 4.8%, which partly reflects a big drop in energy prices over the past few months.

Return to: Factoring, Credit and Economy News

Date Last Updated: 02/17/2009