U.S. factory orders rise less than expected in December

New orders for U.S.-made goods barely rose in December and business spending on equipment was much weaker than previously thought, pointing to a softening in manufacturing activity. Factory goods orders edged up 0.1 percent, the Commerce Department said on Wednesday, amid declining demand for machinery and electrical equipment, appliances and components. Data for November was revised slightly up to show factory orders falling 0.5 percent instead of the previously reported 0.6 percent drop. Economists polled by Reuters had forecast factory orders rising 0.5 percent in December.