New orders for U.S.-made goods rose less than expected in January and shipments fell for a fourth straight month, pointing to a slowdown in manufacturing activity. Factory goods orders edged up 0.1%, the Commerce Department said. The drop comes as orders for computers and electronic products fell. There were also declines in demand for primary metals and fabricated metal products.
Shipments of factory goods fell 0.4% after dropping 0.2% in December. Shipments have fallen for four straight months, the longest decline streak since 2015.