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Delayed U.S. factory orders report adds to evidence showing slowdown late last year

Delayed U.S. Factory Orders Report Adds To Evidence Showing Slowdown Late Last Year essay is one like these Finance, Forex groups, published over our reporter Erick Emerson with February 4, 2019, these post can search with the tags list Adds, Delayed, evidence, factory, late, Orders, Report, showing, slowdown, year. We're satisfied to pleased you as well as providing this anothers paper in reference finance as well I always posting the essay everyday.

Reuters


Robotic arms assemble Tesla’s Model S sedans at the company’s factory in Fremont, California, June 22, 2012.

The numbers: Factory orders in the U.S. fell more sharply than expected in November, adding to a litany of reports showing a slowdown in growth in the industrial segment of the economy toward the end of 2018. A key measure of business investment also declined.

Economists polled by MarketWatch had forecast a 0.2% decline, largely because of lower oil prices. The report had been delayed by the 35-day partial government shutdown

One bright spot: Orders for durable goods rose a slightly revised 0.7%, the government said Monday. These are products such as appliances and computers meant to last at least three years.

What happened: Falling oil prices caused a big drop in the value of energy production at refineries, helping to explain the decline in factory orders in November.

Orders also fell for machinery, military hardware and autos and trucks.

Orders rose for primary metals, fabricated metals, computers and commercial aircraft.

A closely followed gauge of business investment — known as core orders for durable goods — declined by 0.6% in November.

It was the third drop in four months, suggesting companies were more hesitant to invest. The ongoing trade spat with China has been a major source of uncertainty and worries about a recession were especially pronounced during a market slump near year end.

Big picture: Although manufacturers expanded more slowly late last year, they still reported rising sales and continued to hire. Two strong U.S. employment reports in December and January point to stable economic growth despite increasing “crosscurrents” faced by the economy.

Read: ‘Blowout’ jobs report further evidence of strong growth, economists say

The Federal Reserve’s decision to back off future increases in interest rates may also help to support the economy.

Read: ‘Patient’ Fed on hold after Powell says case for higher rates ‘weakens’

Market reaction: The Dow Jones Industrial Average














DJIA, -0.25%












and S&P 500














SPX, -0.06%












fell slightly in early Monday trades. Stocks have rallied over the past month, however, and may be poised to move even higher in the short run after the Federal Reserve backtracked on previous plans to raise interest rates.

The 10-year Treasury yield














TMUBMUSD10Y, +1.50%












rose several ticks to 2.73%. Yet yields are still much lower compared to late last year, when they hit a seven-year high of 3.23%.

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