U.S. Factory Orders Drop in February

New orders for goods manufactured in the United States decline during February, data showed on Monday.

Factory orders fell by 0.8% in February, following a 2.7% rise in January, according to the U.S. Department of Commerce.

The cold weather, resulting from a recent winter storm that hit southern parts of the Unites States, was probably one of the reasons behind the contraction, as the economy continues to show recovery signs from the Coronavirus pandemic.

Unfilled factory orders rose by 0.8% in February, signaling an improvement in demand.