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U.S. Factory Orders Data Eases Economic Slowdown Fears

Reuters (02/04/14) Lucia Mutikani

Nontransportation factory orders gained 0.2% in December after rising 0.3% in November and 0.1% in October, according to the U.S. Department of Commerce. However, overall factory orders fell 1.5%, the largest decline since July, largely due to a major drop in transportation orders, which are typically volatile. New orders for transportation equipment dropped 9.7% in December. On a more upbeat note, orders for nondefense capital goods excluding aircraft declined only 0.6%.