US factory orders fell more than expected in January

The US Department of Commerce said today that US factory orders fell 0.5% during January compared to 1.9% in December, shipments fell 0.5% and inventories fell 0.1% in January.

The US Department of Labor said today that worker productivity in the United States increased at an annual rate of 1.2% in the fourth quarter of 2019 compared to 0.3% in the third quarter of the same year, and on an annual basis workers ’productivity increased to 1.8% compared to the fourth quarter of 2018.

Labor productivity in total in 2019 increased by 1.9%, the highest rate since 2010, compared to 1.4% in 2018, and labor costs increased by 1.7% in 2019, after increasing by 1.8% in 2018.