Factory Orders Plunge in January
March 6, 2007 -- U.S. factory orders fell to a six-year low in January, driven by weaker demand for civilian aircraft, the Commerce Department reported Tuesday.
Overall, demand for manufactured goods dropped by 5.6 percent to $383.1 billion, including an 8.7 percent decline for durable goods and a 2 percent decline for non-durable goods, the report said. Excluding transportation goods -- which saw orders for civilian aircraft plummet by 60 percent -- new orders were down 2.9 percent, the report said.
Shipments were also down in January, by 1.2 percent, while inventories inched up by 0.2 percent, boosting the inventory-to-shipment ratio up to 1.23 from 1.22 in December, the report said.
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