Orders to factories up 1.3 percent in December
WASHINGTON (AP) — Orders to U.S. factories rose a moderate amount in December, closing out a second rough year for American manufacturers who have been battered by a strong dollar and a plunge in capital investment.
The Commerce Department says orders to factories rose 1.3 percent in December. A key category that tracks business investment was up 0.7 percent, a hopeful sign that 2017 may be a better year for manufacturers as investment in the energy sector rebounds.
For all of 2016, factory orders fell 1.4 percent following a 6.3 percent drop in 2015. It marked the first consecutive annual declines in 14 years, since orders fell 7 percent in 2001 and 1.2 percent in 2002.