World Economy

US Factory Orders Drop

US Factory Orders DropUS Factory Orders Drop

Orders to US factories dropped for a fifth consecutive month in December, while a key category that signals business investment plans fell for a fourth straight month, AP reported. Factory orders declined 3.4% in December after a 1.7% drop in November, the Commerce Department reported Tuesday. It was the biggest drop since a 10% plunge in August and marked the fifth straight month that orders have fallen. Demand in a key category that serves as a proxy for business investment plans edged down 0.1% after bigger declines in the previous three months. The stronger US dollar and global weakness have hurt American exports.