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US factory orders fall 1.5% in December

New orders for US manufactured goods fell 1.5 per cent in December, reversing November's gains, Commerce Department data showed on Tuesday.

WASHINGTON: New orders for US manufactured goods fell 1.5 per cent in December, reversing November's gains, Commerce Department data showed on Tuesday.

New factory orders dropped to US$489.2 billion from US$496.4 billion in November.

Much of the fall was in often-volatile civilian aircraft orders, and followed a surge in the same orders in November.

Excluding transportation equipment, which includes aircraft, new orders were up 0.2 per cent, with strength especially in machinery for oil and gas exploration.

For the full year, new orders for manufactured goods increased 2.5 per cent to US$5.82 trillion; non-transport orders gained just 1.5 per cent at US$4.95 trillion.

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