Reuters (02/03/15) Lucia Mutikani

U.S. factory orders declined for the fifth consecutive month in December, according to the U.S. Department of Commerce, but the outlook for business spending plans suggests there could be a rebound in the coming months. New orders for factory goods fell 3.4% as demand declined across a range of industries. That followed a 1.7% pullback in November and was higher than economists’ forecast of a 2.2% decrease.

However, orders for nondefense capital goods excluding aircraft fell just 0.1% rather than the 0.6% decline reported last month. Shipments of such goods were upwardly revised to a 0.2% gain in December instead of a 0.2% fall.