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Factory Orders Plummet Amid Boeing Decline
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US factory orders plummeted in January with a 3.6% MoM drop, the largest annual decrease since September 2020. Boeing saw a sharp decline in non-defense aircraft orders, while defense spending soared by 24% MoM. Metalworking machinery orders rose, but ferrous metal foundries orders fell sharply.
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How could the trend of downward revisions in factory orders affect the US economy and future policymaking?
How might Boeing's decline impact the broader aerospace industry and its supply chain?
What factors contributed to the surge in defense spending amid the overall downturn in factory orders?
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