After getting back on track in December, factory orders are up four of the last five months.
New orders for manufactured goods totaled $552.5 billion in December 2022, up 1.8% from November 2022, according to data provided by the U.S. Census Bureau on Feb. 2.
Factory orders bounced back in December after falling 1.9% in November (revised from the initially reported 1.8% decrease). The 1.8% increase fell just short of the 2.2% rebound economists polled by Reuters had forecast for December. Orders increased 11.8% year-over-year in December.
The rebound in factory orders was led by a 16.9% hike in bookings for transportation equipment, which followed a 5.2% drop in November. Transportation equipment orders were boosted by orders for civilian aircraft, which skyrocketed 115.5% in December after falling 36.4% in November.
Source: U.S. Census Bureau
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Brad Star is an Associate Editor at MDM, having joined the company in August 2022. He spent most of the previous two years as a Business Reporter for USA-Today Network-Wisconsin’s Appleton Post-Crescent, writing its Buzz column that covered local retail and consumer service businesses in the Fox Cities. Star has a degree in economics from Beloit College.
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