Factory Orders Increase in December

Washington, DC, Feb. 3, 2012 -- Factory orders rose 1.1% in December, the Commerce Department reported.

Economists had expected a 1.4% rise although there was an upward revision to November, where orders were revised to a 2.2% increase from an initially reported 1.8% rise.

In December, shipments rose 0.7%, the biggest gain since July and the seventh consecutive monthly increase.

Unfilled orders rose 1.4% in December, the largest gain since March 2008.

Inventories increased 0.1%. Durable goods rose 3.0% in December, unrevised from the initial estimate last week.