American factory orders tack on less than anticipated in January

American factory orders tack on less than anticipated in January

In January, new orders for American goods shot up less than anticipated, tamed by dives in orders for computers as well as electronic products, which is another sign of decelerating manufacturing activity.

As a matter of fact, factory goods orders rallied by 0.1% because demand for primary metals along with fabricated metal products shrank. It followed December’s unrevised 0.1% leap.

Financial analysts had hoped factory orders would soar by 0.3% in January. Eventually, factory orders jumped by 3.8% in contrast with January last year.

The publication of the report was postponed by a 35-day shutdown of the federal cabinet, which concluded on January 25.

Last Friday’s reports revealed that manufacturing output went down for a second month in a row in February, while factory activity in New York state reached an almost two-year minimum in March.

Manufacturing, accounting for 12% percent of the American economy, is actually losing momentum because the stimulus from the previous year's $1.5 trillion tax trim package recedes. Activity is also being affected by a trade conflict between China and America and also by the previous year's leap in the evergreen buck and softening global economic surge, affecting exports.

In January, orders for machinery went up by 1.5% having dived by 0.4% in December. As for orders for oil field, gas field machinery, and mining, they dived by 2.7% having decreased by 8.2% in December.

Orders for electrical equipment, components, and appliances bounced off 1.4% having declined by 0.3% in December. Electronic products and computers went down by 0.9% having slipped by 0.4% in December.

As for orders for primary metals, they shrank by 2%, while fabricated metal products orders lost 0.6%. Additionally, transportation equipment orders rallied by 1.2% in January, decelerating from the previous month’s 3.2% surge.

Similar

Market updates on August 15

The risk sentiment remains under pressure after the comments by China about the countermeasures against the US tariffs. Thus, the AUD/USD and the USD/JPY pairs will be under our attention.

Latest news

German exporters don’t care about stronger euro

German exporters demonstrate ascending optimism as for their business prospects because growing demand from other euro zone countries helps to compensate worries regarding the strengthening currency, as the Ifo economic institute told on Wednesday…

Japan's October machinery orders tack on

In October, Japanese machinery orders rebounded with a faster soar than anticipated, thus re-affirming the resilience of capital spending, which is a major driver in the Japanese economy's almost two-year expansion…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera