Orders to U.S. factories fell for a record fifth straight month in December, according to the Commerce Department. For all of 2008, factory orders rose 0.4%, the weakest showing since orders fell by 1.8% in 2002.
For December, demand for durable goods fell by 3%. Demand for primary metals such as steel were off by 7.1%, machinery orders fell by 5.7%, and orders for computers and other electronic products were down 6.5%.
