Further signs of an economic slowdown in the United States come from a six-and-a-half year low for U.S. factory orders.
The Commerce Department reported today that demand for U.S. made manufactured goods declined 5.6% in January, the most since 2000.
MarketWatch reports, “A weakened manufacturing sector has raised concerns about the durability of the expansion. With housing investment still falling sharply, many economists had counted on higher business investment spending to boost economic growth. But business capital spending has been weak, leaving it up to the consumer to hold up the economy.”
The Daily Reckoning