U.S. factory orders post second straight monthly decline in February

WASHINGTON (Reuters) – New orders for U.S.-manufactured goods fell for a second straight month in February amid ebbing demand for civilian aircraft and there were signs that business spending on equipment remained weak in the first quarter. Factory orders dropped 0.7% after decreasing 2.1% in January, the Commerce Department said on Tuesday. Economists polled by Reuters had forecast orders falling 0.5%.

Orders increased 3.0% on a year-on-year basis in February. Rising borrowing costs as the Federal Reserve fights high inflation have cooled demand for goods, which are typically bought on credit. Demand could come under pressure following the recent failure of two regional banks, which stressed the financial sector.

The Institute for Supply Management reported on Monday that its manufacturing PMI dropped in March to the lowest reading since May 2020. All subcomponents of the PMI fell below the 50 threshold for the first time since 2009. Orders for transportation equipment fell 2.8% after diving 14.0% in January.

Motor vehicle orders rose 0.8%, but were outpaced by a 6.6% plunge in bookings for civilian aircraft. Orders for machinery dropped 0.6%, while bookings for computers and electronic products edged up 0.1%. Orders for electrical equipment, appliances and components increased 0.7%.

Shipments of manufactured goods fell 0.5% after rising 0.3% in January. The inventory of manufactured goods at factories slipped 0.1% for a second straight month. Unfilled orders at factories dipped 0.1% after being unchanged in the prior month.

The Commerce Department also reported that orders for non-defense capital goods, excluding aircraft, which are seen as a measure of business spending plans on equipment, fell 0.1% in February instead of gaining 0.2% as reported last month. Shipments of these so-called core capital goods, which are used to calculate business equipment spending in the gross domestic product report, slipped 0.1% instead of being unchanged as previously reported. Business spending on equipment contracted in the fourth quarter.

(Reporting by Lucia Mutikani; Editing by Andrea Ricci)

Tags:

byron-burger listed on couponmatrix.ukexpressvpn listed on couponmatrix.ukkarmaloop listed on couponmatrix.uklondon-explorer-pass listed on couponmatrix.ukstaples listed on couponmatrix.ukwordery listed on couponmatrix.uk
byron-burger listed on couponmatrix.ukIndulge in the succulent, grass-fed beef of Byron Burgers. Since 2007 they’ve been working to one simple mission: to make delicious burgers with fresh British beef. Inspired by the classic American burger, Byron has brought that sensibility to London and now the nation. With your Byron Burger voucher you can save on good quality ingredients and simply delicious recipes. Choose from classic beef, tasty chicken or new vegan favourites and chow down on good, hearty food.
expressvpn listed on couponmatrix.ukPut your own privacy first with Express VPN, the most trusted data encryption service money can buy. Supporting fast and secure web-surfing in near to a hundred countries across the globe, use an Express VPN discount to land a top-notch discount on a first-rate service guaranteed to keep your information safe wherever you choose to browse. Stream foreign TV shows, work without interruption or protect your privacy across your mobile apps, all this and more is possible with Express VPN.
karmaloop listed on couponmatrix.ukKarmaloop is a popular online retailer that specializes in streetwear and urban fashion. Their selection of brands and items is vast, making them a go-to spot for anyone looking to update their wardrobe with the latest trends. Plus, there's usually a Karmaloop discount code available, so you can always get a great deal on your purchase! Whether you're looking to revamp your whole wardrobe or add a snazzy new accessory to one of your favourite getups, trust Karmaloop to give you that urban edge. We know how important it is to stay up-to-date with the latest fashion trends, but we also know that it's not always easy on the wallet. That's why we work hard to bring you Karmaloop discount codes so you can save big on your next purchase. Whether you're looking for free shipping or a percentage off your total order, we've got you covered. So next time you're looking to update your wardrobe, be sure to check Groupon first for all the best Karmaloop discounts! Looking for the perfect gift for the streetwear lover in your life? You can't go wrong with a Karmaloop gift voucher, as this gives the lucky customer the option to bag any threads they want without dipping into their bank balance. Plus even when where there are no Karmaloop voucher codes available, you can be sure your friend gets a great deal on their next shop! So next time you're stuck on what to get that special someone, give them the gift of urban fashion with a Karmaloop gift voucher.
london-explorer-pass listed on couponmatrix.ukSet an itinerary for your London journey with a London Explorer Pass, the single comprehensive pass to 20 of the capital’s most famous attractions. Giving you access to the likes of the London Eye, Madame Tussauds and Westminster Abbey, get a great price on your pass with a London Explorer Pass discount code to not online streamline your sightseeing experience but pay minimal expense as well.
staples listed on couponmatrix.ukStaples don’t just sell office supplies, they aim to help you achieve your goals. Whether you work at home or in a high-rise building in the city, Staples' single focus is to ensure that you have everything you need to turn your opportunities into realities. How? You will get the help you need because their people are passionate and purposely specialised in business solutions. You can buy with confidence knowing that Staples are committed to getting you the best value for your money. Their assortment promises all your favourites and the latest innovations, and if you need advice, you can rely on Staples to get you started and keep you going. With the Staples discount code you can stock up on the things you need for less.
wordery listed on couponmatrix.ukThere’s nothing like the feeling of getting lost in a good book. With so much now online, the beautiful simplicity of a printed book, the smell of the pages, and the feeling of escaping into a world without the aid of technology is at risk of being lost. But not with Wordery. Wordery has created an alternative bookstore, offering all the convenience of an online shop with the perfection of proper books. Now, with your Wordery discount code, you can browse over 10 million titles, seek recommendations, and enjoy the thrill of finding the perfect book right from the comfort of your own home.