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US factory orders go up

Posted on Feb 05, 02:55PM | IANS

Washington, Feb 5 : New orders for US manufactured goods rose 1.8 percent in December, following a modest gain in November, the US Department of Commerce reported Monday.

US factory orders increased by USD 8.6 billion to a seasonally-adjusted USD 484.8 billion, going up for three of the last four months, reported Xinhua.

New orders for durable goods, or big-ticket items expected to last at least three years such as computers, cars and machinery, rose by USD 9.4 billion or 4.3 percent to USD 230 billion in December. This followed a 0.6-percent November increase.

New orders for non-durable goods, including food, paper products, petroleum and coal products, decreased by USD 0.8 billion or 0.3 percent to USD 254.8 billion in December.

The manufacturing sector, a bright spot in the US economic recovery, showed signs of fluctuation in the second half of 2012 as worries grew over the "fiscal cliff", which many economists warned could rekindle a recession.

The US Congress struck a deal in January, blocking most of the tax hikes and postponing the automatic spending cuts.

A separate report released on Friday by the U.S. Institute of Supply Management showed that the manufacturing sector expanded in January for the second consecutive month.