U.S. factory orders experienced a decline in December, falling by 0.7% to $617.5 billion from $621.9 billion in November, according to data from the Census Bureau.
This downturn contrasts with economists' expectations, who had predicted a 0.2% increase. Despite the drop in orders, factory shipments saw a modest rise of 0.5% in December, following a decrease in the previous month.
Unfilled orders, however, continued to grow, increasing by 0.9%, marking the 17th monthly rise in the past 18 months. The report was compiled by Dow Jones Newswires.
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