India, Feb. 4 -- Reflecting a steep drop by orders for transportation equipment, the Commerce Department released a report on Tuesday showing new orders for U.S. manufactured goods decreased by more than expected in the month of December.
The Commerce Department said factory orders slumped by 0.9 percent in December after sliding by a downwardly revised 0.8 percent in November.
Economists had expected factory orders to fall by 0.7 percent compared to the 0.4 percent decline originally reported for the previous month.
Amid a continued nosedive by orders for non-defense aircraft and parts, orders for transportation equipment plummeted by 7.4 percent in December after tumbling by 5.4 percent in November.
Excluding the steep drop by orders ...