U.S. Factory Orders Inch Up In Line With Estimates In December
(RTTNews) - New orders for U.S. manufactured goods rose in line with estimates in the month of December, according to a report released by the Commerce Department on Friday.
The report said factory orders crept up by 0.2 percent in December after surging by 2.6 percent in November. The uptick in orders matched economist estimates.
The modest increase in factory orders came as orders for non-durable goods rose by 0.4 percent, more than offsetting a slight pullback in durable goods orders.
Meanwhile, the Commerce Department said shipments of manufactured goods were virtually unchanged in December after climbing by 0.5 percent in November.
The report also said inventories of manufactured goods inched up by 0.1 percent in December after coming in virtually unchanged in the previous month.
With inventories and shipments both showing little change, the inventories-to-shipments ratio came in unchanged from the previous month at 1.48.
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