U.S. factory orders drop 1.6 percent in January

WASHINGTON, March 6 (Xinhua) -- New orders for U.S. manufactured products slid by 1.6 percent, or 8.9 billion U.S. dollars, in January, to 542.8 billion dollars.

That came after December's rise of 1.7 percent, according to data released by the U.S. Census Bureau on Monday.

The numbers were a tad better than analysts' expectations of a 1.8 percent decrease.

January's figures came amid mixed messages for the U.S. economy.

While jobs are plentiful, inflation is surging and the U.S. Federal Reserve continues to implement the most aggressive rate hike cycle in decades.