Factory Orders Down, But Less Than Anticipated

Washington, DC, March 5, 2009--Orders to U.S. factories fell for a record sixth straight month in January as demand fell across a wide cross-section of industries.

The Commerce Department said Thursday that demand for manufactured products dropped by 1.9 percent in January. That was smaller than the 3.5 percent drop that economists had been forecasting but it was still the sixth consecutive monthly fall, a record number of declines for a data series that goes back to 1992.

The weakness in January included a big plunge in orders for transportation equipment, reflecting the continued troubles facing automakers who are struggling with the weakest sales in decades.