Trade data points to slow Q1 growth for U.S. manufacturing

Reuters has reported that new orders for U.S.-made capital goods fell for a second straight month in January and shipments rose only slightly, indicating a slowdown in business spending on equipment and in economic growth early in Q1 2018.

Recent data also shows a widening of the goods trade deficit in January as exports have decreased, said Reuters. Orders for nondefense capital goods, excluding aircraft, dropped 0.2 percent in January after declining 0.6 percent in December. In January orders for machinery, primary metals and electrical equipment, appliances, and components decreased, while orders for computers and electronic products and fabricated metal products rose.