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Economy & Policy

January factory orders fall on weak transportation demand

New orders for factory goods fell in January as demand for transportation equipment weakened, but the underlying strength in manufacturing remained intact.

The Commerce Department said orders for manufactured goods dropped 2.0 percent. Economists polled by Reuters had forecast orders falling 2.2 percent after a previously reported 1.8 percent increase in December.

(Reporting by Lucia Mutikani; Editing by James Dalgleish)