Factory Orders Far Exceed Expectations in December

Washington, DC, Feb. 4, 2010--U.S. factory orders posted a 1 percent gain in December, far exceeding expectations and adding to evidence that the manufacturing sector is supporting the economic recovery, according to the Commerce Department.

The government said Thursday that orders were double the 0.5 percent forecast by economists. It was the eighth increase in the past nine months.

It was led by big gains in orders for metals such as steel and aluminum, as well as machinery. However, orders for transportation equipment as well as computers and electronics dipped slightly.