US factory orders record better-than-expected drop of 1.6% in January
New orders for US manufactured products slid by 1.6 percent, or US$8.9 billion, in January, to US$542.8 billion.
That came after December's rise of 1.7 percent, according to data released by the US Census Bureau on Monday.
The numbers were a tad better than analysts' expectations of a 1.8 percent decrease.
January's figures came amid mixed messages for the US economy.
While jobs are plentiful, inflation is surging and the US Federal Reserve continues to implement the most aggressive rate hike cycle in decades.