NewsMine — economy — united-states — 2004 — 2004-jan-mar — Viewing Item

Manufacturing news disappoints economists Original Source Link: (May no longer be active)    http://www.thestar.com/NASApp/cs/ContentServer?pagename=thestar/Layout/Article_Type1&c=Article&cid=1075291135370&call_pageid=968350072197&col=968705923364 http://www.thestar.com/NASApp/cs/ContentServer?pagename=thestar/Layout/Article_Type1&c=Article&cid=1075291135370&call_pageid=968350072197&col=968705923364 Jan. 28, 2004. 09:08 AM U.S. durable goods orders flat in December JEANNINE AVERSA ASSOCIATED PRESS WASHINGTON — Orders for big-ticket goods were flat in December after taking a dive in November, highlighting the struggles America's manufacturers are encountering as they try to get on firm footing. The latest snapshot of manufacturing activity reported by the Commerce Department today disappointed economists, who were forecasting a solid 2 per cent rebound in orders for costly manufactured goods in December. The flat reading in orders for "durable goods" — manufactured items expected to last at least three years — followed a 2.3 per cent drop in November. That weak performance raised questions about how firm a grip manufacturers had on their own recovery. At the time, economists were hopeful the drop was just a one-month rough patch, rather than a signal of new trouble ahead for manufacturing. In December, falling orders for communications equipment, metal products and electrical equipment were offset by rising orders for automobiles, computers and machinery. For all of 2003, however, orders for durable goods rose by 2.8 per cent from 2002. That marked the largest increase since 2000, when orders went up by 3.3 per cent. The performance over the course of 2003 showed that manufacturers did make strides in the right direction.

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