New orders for U.S.-made goods increased by the most in nearly 1-1/2 years in De...
WASHINGTON - New orders for U.S.-made goods increased by the most in nearly 1-1/2 years in December amid strong demand for defense aircraft, but weak business spending on equipment pointed to limited scope for a sharp rebound in manufacturing even as business confidence is improving.
Economists polled by Reuters had forecast factory orders would increase 1.2% in December. Excluding defense, factory orders dropped 0.6% in December after edging up 0.1% in the prior month. Overall factory orders fell 0.6% in 2019. Boeing last month suspended production of its troubled 737 MAX jetliner, which was grounded last March following two fatal crashes. The coronavirus, which has killed hundreds of people in China and infected thousands globally, could disrupt supply chains, especially for electronics producers.
Economists estimate Boeing’s biggest assembly-line halt in more than 20 years could slice at least half a percentage point from first-quarter GDP growth. The U.S. economy grew 2.3% in 2019, the slowest in three years, after expanding 2.9% in 2018.Transportation equipment orders surged 7.9% in December, the biggest increase since August 2018, after plunging 8.2% in the prior month. Orders were boosted by a 168.3% jump in demand for defense aircraft and parts, which offset a 74.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Star Wars Battlefront 2' just got two new Heroes in a new update'Star Wars Battlefront 2' update 1.45 adds BB-8, BB-9E and several major UI tweaks. Read the full patch notes here.
Read more »
La Roux's New Album, Supervision, Signals a New EraLa Roux, born Elly Jackson, has completed her third record after years of strife—marking huge changes in her life and music.
Read more »
Toddler with rare disorder gets new oxygen tank holders designed by 6th gradersA toddler who had trouble getting around with her oxygen tank is now getting help from a kind group of sixth graders. Emmett Hightshoe was diagnosed with Kabuki in utero.
Read more »
Care/of's New Ingestible Collagen Line Includes a Game-Changing Vegetarian OptionIt's sourced from a surprising — but ubiquitous — breakfast food.
Read more »
Despite Election Security Fears, Iowa Caucuses Will Use New Smartphone AppIowa's Democratic Party used a smartphone app to transmit results of the state's caucuses. As NPR reported last month, cyber security experts questioned this plan — warning if the app didn't work, there could be a delay on a winner being announced.
Read more »