New orders at US factories dipped in January as demand for long-lasting durable items was revised lower.
Figures from the Department of Commerce said factory orders fell 0.5 per cent in January, in line with Wall Street expectations and their first drop since November.
However, December factory orders were revised up to a 1.8 per cent gain from the initially reported 1.1 per cent increase.
Demand for durable goods - those meant to last for three or more years - fell 2.3 per cent in January, led by a sharp decline in transportation-related orders. In its initial report on durable goods released last week, the department said orders dropped a smaller 1.8 per cent.
Non-durable orders, which make up slightly less than half of all factory orders, offset some of the decline seen in the durables sector, rising 1.6 per cent after a 2 per cent gain in December.
Factory inventories were up 0.2 in January, their third rise in four months, according to the department.