The US factory orders have decreased

According to data released by the US Department of Commerce, the US manufacturing sector experienced a 0.7% decrease in new orders for manufactured goods in February, falling to $536.4 billion. Although the decrease was slower than the revised 2.1% decrease in January, it was weaker than the expected 0.6% decrease.

The decrease in new orders was mainly caused by a 2.8% decrease in orders for transportation equipment. Non-defense aircraft and parts orders also decreased by 6.6% in February, after the significant 56.3% decrease in January.

Orders for durable goods decreased by 1.0% in February, after the 5.0% increase in December. New orders for nondurable goods also decreased by 0.4%.

In March, new orders contracted again, reaching the lowest level since May 2020, indicating the continuation of weakness in the US manufacturing sector.