US factory orders dropped 0.7 percent in November with key investment category also down
{{#rendered}} {{/rendered}}Orders to U.S. factories fell for a fourth straight month in November, with demand in a key category that signals business investment plans down for a third month.
The Commerce Department says factory orders dropped 0.7 percent in November after a similar 0.7 percent fall in October. The November weakness came from decreases in demand for primary metals, industrial machinery and military aircraft.
A closely watched category that serves as a proxy for business investment spending dropped 0.5 percent in November, the third straight decline, the longest stretch of weakness in this category since 2012.
{{#rendered}} {{/rendered}}Economists, however, remain optimistic that the drop in orders is a temporary soft patch and a stronger economy with increased consumer spending will trigger a rebound in demand in 2015.