(Rob LaFrentz – IndustryWeek)
Factory orders in the U.S. for new goods fell in December for the fifth straight month.
The latest report from the Commerce Department shows a drop of 3.4% from November in the demand for manufactured products to $471.5 billion. The fall was felt across most sectors, and is being blamed a general downturn in the global economy, low oil prices and the rising dollar increasing the prices of U.S. exports.
Another factor is the continuing contract dispute between port workers along the West Coast and shippers. Moving products has become a logistical headache for both manufacturers and retailers. Click here to read more.