Factory orders in the US fell short of expectations in December

Factory orders in the US rose 1.8 percent in the last month of last year, falling short of market expectations.

The US Department of Commerce released factory order data for December 2022.

Accordingly, factory orders in the country increased by 1.8 percent in December last year compared to the previous month.

market expectations underThe remaining factory orders were expected to increase by 2.3 percent in this period.

Factory orders fell 1.9 percent in November 2022.

In the said period, orders for durable goods increased by 5.6 percent, while orders for non-durable goods decreased by 1.9 percent.

Factory orders are important in terms of shedding light on the near future performance of the industry branch, which has a valuable place in the US economy.