US industrial orders decline in February

US industrial orders decline in February
US industrial orders decline in February
Alwyn Scott/Reuters

Outstanding cold weather is said to be responsible for the impact on North American industry, despite the sector showing strength during the economic recovery

New orders for products manufactured in USA they retreated in February, probably pressured by the atypical cold climate, although manufacturing remains strong as the economic recovery regains strength amid the improvement in the health situation and the strong fiscal stimulus.

O Department of Commerce said today (5) that orders to the industry fell 0.8% after a jump of 2.7% in January. Economists consulted by “Reuters” forecasted a 0.5% drop in February. In the annual comparison, orders rose 1.0%.

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The harsh climate has affected large parts of the country, including winter storms in the Texas and in other parts of the South, in the second half of February, affecting consumer spending, factory production, housing construction and sales.

But that is behind us. O Supply Management Institute (ISM, in the English acronym) said last week that its index for national industrial activity jumped in March to the highest level since December 1983.

Manufacturing, which accounts for 11.9% of the economy of USA, has been driven by a shift in demand during the goods services pandemic. (With Reuters)

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