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Factory orders fell in December for a record fifth month in a row. With December's numbers now in the books, it is official that last year was the worst year for manufacturers since 2002.Going into today's announcement, everyone agreed that factory orders had probably dropped in December, but analysts were not expecting the decline to be as steep as the actual figures revealed. Analysts had estimated that we would see a 3% dip in factory orders for the month, but the actual numbers indicate a deeper 3.9% reduction during December.
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